My blog has moved!

You should be automatically redirected to the new home page in 60 seconds. If not, please visit
and be sure to update your bookmarks. Sorry about the inconvenience.

Wednesday, April 01, 2009

Ryan sends along an etymology of the word "recession."

Before the 1930s, any serious economic downturn was called a depression. The term "recession" didn't come into common use until "depression" became burdened by memories of the 1930s, said Robert McElvaine, a history professor at Millsaps College in Jackson, Miss.

"When the economy collapsed again in 1937, they didn't want to call that a new depression, and that's when recession was first used," he said. "People also use 'downward blip.' Alan Greenspan once called it a 'sideways waffle.'"