Abstract
'Crisis', 'recession' and 'economical slump' have become everyday words in the media. We will agree that in ever‐lasting media search for sensation, press reports sometimes confuse facts for more or less sensible conclusions and forecasts. But, on the other hand, we were so proud when Prime Minister Donald Tusk pointed out the map, where the rest of Europe was shown as a sea of recession red, with Poland the lone green island of economic growth.
The main questions are: why our economy fares the recession better than other European countries? Do we have a real panacea for present economic activity slowdown? And, do we really have economical collapse in Poland? In my assignment I will focus on searching the answer, is it an excellent medicine or only a placebo?
Experts explain that a crisis is 'specific, unexpected, and non-routine event or series of events that [create] high levels of uncertainty and threat or perceived threat to an organization's high priority goals'. Venette argues that 'crisis is a process of transformation where the old system can no longer be maintained'. These descriptions pointed out the need for change. Meanwhile a recession is a general slowdown in economic activity over a period of time. In time of recession, production as measured by Gross Domestic Product (later: 'GDP'), employment, investment spending, household incomes, business profits all fall during this process, while bankruptcies and the unemployment rate rise.
