What's the difference between a depression and a recession?
October 8, 2012 12:21 PM Subscribe
Depression vs. recession
posted by easily confused to work & money (9 answers total)
Back in the 1930s it was The Great Depression; we're (hopefully) currently coming out of The Great Recession. Okay, both apparently include higher unemployment, bank and business failures and home foreclosures.... I think.
So, I'm an economic dummy: please explain, in basic terms!, what the difference is between a depression and a recession!