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For those who are uncertain what a recession truly is, I will try to summarize. A recession is a contractionary phase in the business cycle. The National Bureau of Economic Research (NBER) describes it as "significant decrease in economic spending spread across the nation, lasting more than a couple months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales." But what exactly are causes of economic recession?This definition looks scary, and rightfully so. Almost every aspect of our consumer lives is affected by a recession. Basic essentials like food and housing become (and are becoming) harder to obtain as prices sky-rocket and fear escalates. One of the preeminent causes of economic recession is rampant capitalism. We are seeing problems for years of overproduction and rampant greed. The golden age of capitalism in the seventies and eighties is now taking its toll. Another example of the important causes of economic recession is plummeting demand for goods and services. It's not a stretch to understand that if we produce more than we are consuming. the demand will just evaporate, and we have a loss of resources.If you would like a free e-book regarding the present recession, check out this website. It explains some commonquestions people have regarding the causes of economic recession and it also explains measures you can take to protect or even increase your income.Again, check out the book. It's informative and won't cost you anything. | | | | | | |  | |  |
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