History of Big Recessions

A recession is a decline in economic activity for a period of atleast half a year. The world has seen several recessions ofvarying degrees. Every part of the human inhabitable world hasexperienced a recession at a point of history. Compared to theunderdeveloped and developing countries, the developed nationsusually fall into definitive recession. Some recessions are of longduration like the Great Depression, while some are less severeeconomic crises.
There are many causes for a recession. Economists around the world use different techniques to predictthe recession. Also, there are many indicators to establish aneconomic condition as a recession. A recession can havelong-lasting impacts on human lives. It can affect differentdimensions of society. There are also many economists who areof the opinion that recessions are a normal part of aneconomic cycle.
Something that provides an opportunity to takeremedial measures and bring in innovations.