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I also think it's very semantical, but basically goes down to the common understanding, that crisis can be any major adverse effect which has an impact on a larger group of people (eg. a nation). Given we accept this, all those terms can be interpreted within their own context.


I agree with @1muflon1 that there is no precise or unifying definition of what constitutes an economic crisis. However, do we need one? First, we can adopt a definition of the term crisis, such as "a situation that has reached a critical phase" according to the Merriam-Webester online dictionary. Next, we can attach an adjective to the crisis to ...


I think you are taking a philosophical approach to the question. This is a time of crisis for people suffering in some sort of way. COVID created a crisis for some people and this crisis created opportunity for some people. This has been time that I have been able to use learning to program and monetize off of my projects. I think the crisis is relative ...


I don’t think crisis itself has set definition as opposed to recession, unless you attach some clarifier to it as the examples you mention. Generally the word is even in academic work thrown around quite loosely. For example in Romer advanced macroeconomics in the subject index for word crisis you will find: crisis; see debt crisis; economic crisis of ...

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