What is the major reason for recession causing global economy slowdown?
This was selected as Best Answer I sense some irony in your question or maybe you are looking for a non-standard answer, so I am taking a chance here. In my opinion, the reasons for current depression are: – Human greed that pushed people (small investors, individuals) to pursue the “get-rich-fast” path, which made them take uncalculated risks – Human greed again, (this time from financial institutions, banks, investments houses etc.) that saw this rush, encouraged it and supported it, thinking that the only looser in this equation will be the investors – Human greed again and again that pushed some financial institutions to create variations of “Pyramid schemes” that is doomed for failure by design, even after a while. – The capitalization model of the new economy, where the business is driven to suit the interest of the shareholders before the market need or the human basic requirements – The global marketing that is pushing everyone to get the best car, best house, best everything,
