Recession Definition Cold War

The cold war was a period of geopolitical tension between the soviet union and the united states and their respective allies the eastern bloc and the western bloc after world war ii.

Recession definition cold war. With a little imagination you could spin a horror story in which economic crisis led to. Unemployment is 6 1 and we re running around like chickens with our heads cut off. By gwynne dyer ten years ago this month the financial services firm lehman brothers filed for bankruptcy protection triggering the 2008 crash and the subsequent great recession from which the. The oft perpetuated myth that rapid economic reforms post cold war drove the eastern bloc into early recession has been debunked by an economics professor at the libertarian think tank cato institute s conference on the cold war.

What were recessions like during the cold war. Cold war definition is a conflict over ideological differences carried on by methods short of sustained overt military action and usually without breaking off diplomatic relations. Specifically often capitalized c w. A period when the economy of a country is not successful and conditions for business are bad.

In his research economics professor oleh havrylyshyn who works at the university of toronto and. A recession is a period of decline in general economic activity typically defined when an economy experiences a decrease in its gross domestic product for two consecutive quarters. The ideological conflict between the u s. French word meaning an easing of tensions between the world s superpowers during the cold war.

Back in those bad old days the worst case scenario was truly grim. Historians do not fully agree on the dates but the period is generally considered to span the 1947 truman doctrine to the 1991 dissolution of the soviet union. It makes me wonder.