In economics the term depression, e.g. the Great Depression or crisis is now almost universally replaced by the word "correction", as in a "market correction." It is very rare to find economists predicting a depression - in part because such predictions can self-fulfil:

In psychology, depression refers to a lack of human happiness. While there are definitions of clinical depression, these tend to poorly describe the specific elements of a lack of happiness. There is a substantial study of happiness:

Buddhists advise avoiding depression by discipline, to remain in a happy state by focusing on compassion:

Buddhist Lamas liken the state of the mind to that of the oceans: very deep but capable of being disturbed only on the surface. They emphasize "inner freedom" from anger, pride, jealousy, and other cravings. This was validated scientifically by study of addiction. In this view, depression is likened to "sitting in a cave facing North and waiting for the Sun. You'll never see it."

The Dalai Lama's book The Art of Happiness is a set of advice to non-Buddhists on achieving some of the masteries of contemplative traditions involved, and the relationship of these to the so-called "philosophy" and ethical traditions practiced in post-European cultures.

There are many social and political initiatives directly arising from the study and discipline of happiness:

The use of the word depression in all of economic, personal psychologic, and social contexts may be warranted, as all three may share a common root in perception and cognition. In order to work and play together effectively, humans may require a degree of payoff in direct happiness terms.