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easyeboy | February 08, 2009 12:24 AM | in Economics

What is the opposite of a recession? Is there such a term like "boom," and when was the last time we had one?

What defines the opposite of a recession?

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BEST ANSWER chosen by asker | krishirst | February 08, 2009 12:44 AM

According to this article from CNN Money, the "greatest economic boom ever" was in 2007.

http://money.cnn.com/magazines/fortune/fortune_archive/2007/07/23/100134937/index.htm

Today the article reads like a dire warning though--that the boom is measured by how high-flying the life of the Fortune 500 CEOs was. I particularly like this creepily prophetic quote:

"The last global good time in the 1970s, of course, ended in a nasty bout of double-digit inflation, spawning the worst stock market crash since the Great Depression, plus other horrors, such as the rise of disco. Is that sorry past our future? Not necessarily."

Here's another article on economic booms and busts from the blog Economics Help:

http://www.economicshelp.org/2008/11/boom-and-bust-economic-cycles.html

By some definitions, you could certainly call the housing growth of the 1980s and 1990s, a "boom", and certainly the tech market boom of the late 1990s would count, too.

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