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I'm always leery when media begins to tout a new word. Maybe economic contraction has some history to it and a precise definition, but maybe its being coopted o
by jxramos 7y ago
I'm always leery when media begins to tout a new word. Maybe economic contraction has some history to it and a precise definition, but maybe its being coopted or is void and ready to fill with whatever new line of rhetoric we will soon be assaulted with.
Would be great to have a headlines database to see trending terms and when something is really unprecedented in headlines.
- pjc50 7y agoYes, the precise definition is that the GDP growth figures have gone negative. Two quarters of negative growth is the usual definition of a "recession". This happens every decade or thereabouts, and there is a large body of work in economics about the "business cycle", why it happens and what if anything can be done about it.
- endorphone 7y ago"Economic contraction" is an economic word with many, many decades of broad use behind it. Your own personal ignorance to it doesn't turn it into some media scheme that you have outed.
- jxramos 7y agoDefinitely personal ignorance to the trends and history around it. I've vaguely heard of it before, but can't recall a time I've actually seen it in a headline. It's definitely not unprecedented though (https://news.google.com/search?q=%22economic%20contraction%22&hl=en-US&gl=US&ceid=US%3Aen https://news.google.com/search?q=%22economic%20contraction%2...). I thought the more interesting bit was the ability to scan headlines. I'm not claiming to have outed any media scheme, but that's a pretty catchy phrase you've come up with.