Home » What causes an economic recession? – Richard Coffin financial crisis 2008 explained

What causes an economic recession? – Richard Coffin financial crisis 2008 explained

by myyachtguardian123

How can factors like inflation, supply and demand, and interest rates trigger recessions? Learn the economic basics of modern markets.

For millennia, the people of Britain had been using bronze to make tools and jewelry, and as a currency for trade. But around 800 BCE, that began to change: the value of bronze declined, causing social upheaval and an economic crisis— what we would call a recession today. So what causes recessions? Richard Coffin digs into the economic fluctuations that affect our modern markets.

Lesson by Richard Coffin, directed by Augenblick Studios.

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thomas aquinas 11/09/2021 - 6:28 Sáng

Technically, a recession is a certain poor level of performance over months. Anything can cause a recession, be it disappointing employment numbers, a supply crisis (oil?), a war, or even a sunspot (in mid-nineteenth century, a solar event took down telegraph service; a similar event might bring down the web, power transmission, etc.) The problem with 2008 and 2020's recessions is a loss of resilience as the world eliminates jobs or exports them to other nations as mega-corporations keep growing (Amazon, et al.)

Gregory Sagegreene 11/09/2021 - 6:28 Sáng

What 'caused' "the value of bronze" to decline???

You explained the bulk of economic 'theory' in summary,
which in turn simply measures things and draws relationships and infers a 'measurable machine' and explains nothing about metanomic forces.

But the real question is:
'Why do we have boom and bust business cycles?'
Answer: 'Fallible human greed, which inevitably morphs into fear.'

Postscript: We are always gathering better data on how to deal with the last recession, while the economy has already moved on to a beast more complex.

Kent Gil 11/09/2021 - 6:28 Sáng

When the school bell rings lunch time

Joep Swagemakers 11/09/2021 - 6:28 Sáng

Crypto will be the new iron.

Pritish Appadoo 11/09/2021 - 6:28 Sáng

Capitalism creates recessions, in fact the whole paradigm is set up for cycles of boom and bust. No money to be made, no illusions of "growth" to be created if it just plodded along instead.

SCH Dao 11/09/2021 - 6:28 Sáng

under capitalism if one company tries to lower the cost of their product by paying their employees less and less even though they are becoming more productive through learning new technologies then other companies have to do that too so as to not go out of business. this process continues in almost every industry for a few years until the employees stop making enough money to afford anything that each other makes. when the employees do not have enough money to be consumers that is when the bust/recession happen. these people still have NEED but because they don't have money they dont have any DEMAND. this lack of demand is why companies start to fire employees which makes the bust worse.
to deal with this, banks lower interest rates and start giving out loans and credit cards. pumping this money back into the economy increases demand and jobs start to be formed again. this is a boom but it's not as nice as the previous boom. also, its just a matter of time before another bust happens.
every boom that happens will be less good and each bust will be more bad because people's credit becomes worse every time. these 'cycles' will also happen more often and are also the reason why the rich get richer and the poor get poorer. usually during busts big companies like to buy newly cheap real estate or land so that they can lease it to workers during the next boom and squeeze them out of their every lowering wages.
these cycles will continue on until people start to understand them as ask for reform or a revolution of the far left or far right.

Bryan 11/09/2021 - 6:28 Sáng

What causes a recession? Historically, a Republican in office.

Zack Davis 11/09/2021 - 6:28 Sáng

Your definition of inflation is incorrect. Inflation is the expanding of the money supply. Not good getting more expensive. Inflation mean to expand

Jamie C 11/09/2021 - 6:28 Sáng

All controlled by central banks

Vinn Artaigh 11/09/2021 - 6:28 Sáng

This is now a Comedy. LoL 😂 stack sats

Kenn Aquino 11/09/2021 - 6:28 Sáng

In my opinion, greed and recession are related. If the rich know how to share their wealth instead of hoarding it. An example would be the abuse of cheap labor, while overpricing their merchandise. Governments do their best to keep economies moving and afloat, the oligarchs on the other hand are doing their very best to squeeze out all value they can get from almost everybody: people, nature, and governments.

guy 11/09/2021 - 6:28 Sáng

I hope joe o'biden is watching this.

David Wood 11/09/2021 - 6:28 Sáng

Biden cause recession, and the democrats policies.

R A 11/09/2021 - 6:28 Sáng

Not one mention of the socialist bailouts that always follow these "recessions"

xdsmastermia 11/09/2021 - 6:28 Sáng

not informative at all

Asher Wallis 11/09/2021 - 6:28 Sáng

Nothing like a TED-Ed video that implicitly supports the centrality of fossil fuel remaining at the center of the economy. Ich.

Kaung Myat San 11/09/2021 - 6:28 Sáng

This dude voice so fking annoys me in so many level. Why TF he can’t speak normally!?

mtharri 11/09/2021 - 6:28 Sáng

The democrats

Ran Charted 11/09/2021 - 6:28 Sáng

that is why we should use bitcoin!!!!

joe28704 11/09/2021 - 6:28 Sáng

Interesting that no one yet can predict when a a recession will occur given the all the data that is collected every minute from every economy on earth.

EF 11/09/2021 - 6:28 Sáng

Banks do not 'lend' you money. Your signature creates the 'loan'. Central bank's create recessions as regular as clockwork…

sutats 11/09/2021 - 6:28 Sáng

Recession is mentioned 15 times in the video.

Sadiq Hamza 11/09/2021 - 6:28 Sáng

Now i know why government do nt want cryptocurrency

David Tanslow 11/09/2021 - 6:28 Sáng

A monetary recession happens when commodities and goods are over valued.
Globalised depression occurs when it becomes cheaper to transport products around the world than to produce those same products at home.

Jocelyn Joseph 11/09/2021 - 6:28 Sáng

Overpopulation that overwhelmed resources and eventually led to collapse of economy.

Econ Help 11/09/2021 - 6:28 Sáng

This is pretty good but it takes a very academic and mainstream view. Never forget that there is a real economy out there. That is why I own a home that is paid off. Inflation is a tax but if there is rampant inflation I am okay because the value of my home goes up. It is a real asset and I am hedged against inflation. Why is this a difficult strategy? Again it comes down to the real economy. The world population has exploded but the real resources needed to build homes like land and building materials have remained stagnant in comparison. In essence the real economy has become much worse for millions and millions of people. There is real economic depression for many! – NK , MA, MS, Ph.D.

Ali Ferz 11/09/2021 - 6:28 Sáng

У чувака фамилия 'Гроб'

Công Minh Lê 11/09/2021 - 6:28 Sáng

In university, it took me 3 months to study about recession. But in this video, they just talk about it in 5 mins :)))

T SexyRexy 11/09/2021 - 6:28 Sáng

Basically because the super rich hoard wealth.

deckape69 11/09/2021 - 6:28 Sáng


BushFox 11/09/2021 - 6:28 Sáng

Trudeau causes recession.

12vi Pass 11/09/2021 - 6:28 Sáng

00:20 becoz they started to stole gold from other countries

Long Beach 11/09/2021 - 6:28 Sáng

3:53 sound familiar? 🧐

Raymond Anderson 11/09/2021 - 6:28 Sáng

Let's all pay a flat 10% income tax, everyone gets a refund and a 10% national sales tax. If 10% is good enough for God, it's good enough for the federal government.

Raymond Anderson 11/09/2021 - 6:28 Sáng

Every dollar released from taxation is another dollar available for job creation. It's a paradoxical truth that the surest way for the federal government to increase revenue is to lower tax rates–John F Kennedy

Raymond Anderson 11/09/2021 - 6:28 Sáng

Stop paying people not to work.

Richard Salley 11/09/2021 - 6:28 Sáng

You know, back when we were on the gold standard it was a gold shortage that caused the recession.
But, since we switched to fiat currency, it is now the government that causes recession.

Kshitij S 11/09/2021 - 6:28 Sáng

The timing of this video is so perfect..15 oct 2019… It was made just when corona leaked from Wuhan lab, causing a recession

Jastro88 11/09/2021 - 6:28 Sáng

"A recession is when the rich don't get richer."

Dave Macmurchie 11/09/2021 - 6:28 Sáng

As an exercise in exposition, this video is a dismal failure.


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