Professor Elam

Goldman Sachs and Merrill see a recession coming.  Okay what is the difference between

everything AOK

recession

depression

I went to www.quickmba.com and found an explanation for recession along with the business cycle. So I put in depression and guess what, nothing.  I suppose no oe is worreid about more than a two quarter slowdown which is the rought definition of recession.   So I tried www.about.com, and i got a great Dr. Phil rundown on mental depression but nothing on economic depression. Gee if we don’t have the latter why the former?  Finally I tried www.-m-w.com which is to say the dictionary, and there listed fifth was, a period of low economic activity.  Gee what doe it say about the overall outlook if I cannot find a definition of Depression?