According to economist joseph stiglitz, the defining political question of our age is the struggle between those advocating and those advocating

A minimalist role for the state, a greater need for government.

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In financial aspects, a depression is a sustained, long haul downturn in monetary movement in one or more economies. it is a more extreme monetary downturn than a recession, which is a slowdown in financial action through the span of a typical business cycle. a depression is an irregular and extreme type of recession. so depression is always followed by recession but it is not correct to state that a depression always follow a recession.