Could You Explain the Differences Between a “Recession,” “Depression” and “Repression”?
Question/Comment: Could you please explain the differences between “recession,” “depression” and “repression”? I understand that recession has a text book definition, but the other two terms seem vague.
Paul Solman: “Recession” is two successive quarters of “negative growth” – i.e., a half-year’s worth of shrinking economic output.
A “depression” is a recession so deep, in terms of output decline and unemployment, it seems like a qualitatively different animal.
“Repression” is when the true ruling system of your brain (your subconscious) keeps bad thoughts like the possibility of a depression from what appears to be the ruling system: consciousness. The purpose, presumably, is to stave off depression – of a clinical sort. “Suppression” is when you keep the bad thoughts at bay consciously. “Impression” is what I hope I’ve made with this answer.