We're working on a naming project right now, and it got us thinking how hard it must be to name an economic time. Before the Crash of 1929, there was no such thing as a depression. When the economy tanked, they chose a more appropriate term: panic. Guess it was decided after the Panic of 1904 that perhaps a shrewder choice of words might be the secret to instill more consumer confidence. And in 1929, Hoover settled on "depression." He did not win re-election.
Even now, we grab at straws to create phrases to sound as though things aren't that bad, like "downturn" or "slowdown" or "market correction" until we have to succumb to the reality that we are in a recession. Try coming up with your own alternate to "recession." You might feel a little less panicked. more >>>
From the Arkansas Democrat-Gazette
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