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About: Transformation in economics     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:WikicatRecessions, within Data Space : dbpedia.demo.openlinksw.com associated with source document(s)

Type: Thingyago:Abstraction100002137yago:Attribute100024264yago:Condition113920835yago:EconomicCondition114488594yago:Recession114013368yago:State100024720yago:WikicatRecessions New Facet based on Instances of this Class

Transformation in economics refers to a long-term change in dominant economic activity in terms of prevailing relative engagement or employment of able individuals. Human economic systems undergo a number of deviations and departures from the "normal" state, trend or development. Among them are Disturbance (short-term disruption, temporary disorder), Perturbation (persistent or repeated divergence, predicament, decline or crisis), Deformation (damage, regime change, loss of self-sustainability, distortion), Transformation (long-term change, restructuring, conversion, new “normal”) and Renewal (rebirth, transmutation, corso-ricorso, renaissance, new beginning).