Every civilization, every kingdom, every institution have faced recession in the history. Recession is not new to humanity or society. It might be new to the current generation facing it, but not to the humanity as a whole.
From Indus valley civilization to Mayan civilization recession is common. Every civilization born, mature, flourish, saturate, decline(recess) and disappear.
Apocalypto movie shows the Mayan society in its recession.
The kingdom of Alexander had recession and disappeared soon after his dead.
The first largest known empire of India is Mauryan Dynasty founded by Chandra Gupta Mauryar. It reached its peak during Asoka tenure. King Asoka the first ruler who ruled the territory which is larger than the current political territory of India. After his death, within 50 years Mauryan Dynasty disappeared.
Nanda dynasty was earlier to Mauryan dynasty but it was not so big as Mauryan. When Alexander reached Indus Nanda dynasty was ruling northern India.
After Mauryan dynasty there were various kingdom/kings ruled various part of India attained peak stage and recessed or disappeared.
Guptas, Harshar, Kanishkar were worthy of mentioning.
Raja Raja Cholan from Tamilnadu and Krishan Devarayar from Andhra pradhesh were notable kings. Their kingdoms flourished for around 200 years.
The Pragadeeswarar Temple at Tanjore, India built by Chola kingdom reveals how much rich they should be to built such a temple.
Next dynasty which ruled more than the current political map of India is Mughal Empire during Aurangazeb period. After Aurangazeb mughal empire disappeared.
Ancient cities India like Patna, Madurai, Hambi, Kannosi, Delhi were having their importance due to either political or economic or power. Except Delhi none retains its old richness and importance.
The importance and richness were recessed from old cities to new cities. Bombay, Bangalore, Chennai, Hyderabad, Vizag are having the BUZZ now. They are the cities born during British rule in India. Like in the history, these cities will loose its importance and people buzz, new cities will emerge.
Those who have been living in Chennai, India for more than 30 or 50 years could remember the transition of busy or Buzz points in the city.
When I was a school going boy, Luz corner near mylapoor, mount road around Devi theater and Alankar theatre and Pandy bazaar were busy or buzz points of the city. Paris corner was the busiest Place in Chennai. Now they lost their center of attraction.
Now South Usman road, Ranganathan street in T.Nagar, Purasaiwalkam Garden Area Near Abhirami Mahal, city center, Spencer Plaza, Ispahani Center are buzz points of the Chennai city.
The Indian road king Ambassador car is in its recession. It could not compete with modern car companies.
Guindy and Ambattur Estates were hot spot for private employments for previous generation. Now OMR(Old Mahabalipuram Road) is the hot spot for private employments.
Recession is happening all the time at various level. An individual may face recession personally. Personal recessions are not noticed.
Even now several Indian cotton industries facing recession and people depending on those industries are suffering.
American diamond industry was thriving in Trichy district till a decade back. It had its recession when China captured the world American diamond market. Some of the families, individuals committed suicide from Trichy district during the recession in Indian American diamond industry.
The advent of modern women dresses like Jeans and top, Suridhar, Salwar, Mities eliminated the craze for Silk Saree. Silk Saree industry at Kanchipuram, India is under recession or about to disappear.
What was the economic situation of India, when it attains freedom from British. It was broke not even under recession. What is the situation now.
Indian farmers have faced recession during Jamindari administration, after Independence. Still farmers from different geographical locations of India facing recession. Recession is not new to Indian farmers. They born, grow, suffer, and die in between recessions.
There are sections of Indians who used live with recession and get adjusted to it.