Word: recessional
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But the biggest criticism of the stress tests has been that they were not stressful enough. For instance, the government's "adverse case" scenario assumed an unemployment rate of 10.3%. But some economists are already predicting that unemployment will reach that level - or worse - in this recession. So the government...
In this groundbreaking 2008 book Buyology: Truth and Lies About Why We Buy, Danish brand consultant Martin Lindstrom showed how neurology, as much as economics, drives consumer behavior. One of TIME's 100 Most Influential People in the World, Lindstrom talks to TIME's Sean Gregory, during a business trip...
There have been some signs, though fleeting, of a possible economic rebound. What's the consumer thinking right now? What is fundamentally different about the recession, except for the ones we had in the 1930s, is that we're putting bookmarks in our brains. When icons that we defined as...
What else can brands do combat this recession? They can play off something I call instant justification. When the buyer from the family goes out and buys this Louis Vuitton bag, it's actually hard to remove the guilt factor when she's in the store. She now has to...
In the worst recession in decades, budget cuts are both necessary and expected. Even in the proverbial “Ivory Tower,” sacrifices must be made, and these sacrifices will test the resilience of the Harvard community in weathering such a formidable economic storm. Certainly, the course...