恐慌

• Reading: きょうこう
• Romaji: kyoko
• Kanji breakdown: 恐 (kyo) — fear, dread; 慌 (ko) — panic, flustered
• Pronunciation: /kʲoː.koː/

Meaning

Panic; financial crisis; great depression. A severe, widespread economic downturn characterised by bank failures, mass unemployment, and collapse of financial markets.

Most famously associated with the 世界恐慌 (Great Depression of 1929) and the Showa Financial Crisis (昭和恐慌) of the 1930s. In contemporary usage, 恐慌 implies a systemic collapse — more severe than a recession (景気後退). The term also appears in phrases such as 金融恐慌 (financial panic) and is sometimes used colloquially to mean a state of extreme alarm or chaos.

Examples

1. 1929年の世界恐慌は、銀行の連鎖破綻と大量失業を引き起こした歴史的事件だ。 The Great Depression of 1929 was a historic event that caused a chain of bank failures and mass unemployment.
2. 金融システムへの不信感が急速に高まれば、現代でも恐慌に近い状態が生じうる。 If distrust in the financial system escalates rapidly, a state close to panic could arise even in modern times.
3. 恐慌を未然に防ぐには、中央銀行による迅速な流動性供給が不可欠だとされている。 It is widely held that rapid provision of liquidity by central banks is indispensable to prevent a depression from occurring.

Usage Guide

Context: economic history, macroeconomics, financial journalism, policy

Tone: grave

Origin & History

Compound of 恐 (fear, dread) and 慌 (panic, confusion). The combination conveys a state of terrified disarray. Originally used for psychological panic, it was extended to describe economic collapse in the modern era.

Cultural Context

Era: Meiji–Modern

Generation: Adults

Social background: Academic/General