Croatia is in its tenth quarter of continuous economic decline, but the economic profession is still bereft of the name for this curious phenomenon. Actually, it is still called recession, albeit a deep one. But calling it depression is not yet in the cards. To the best of my knowledge, the term is out of commission. Which is why I feel ashamed of my profession, I must admit. For depression is not just an economic term to be associated with a number of quarters of continuous economic decline, but also a political term to be associated with government action. The first thing that comes to mind is extensive aid to those most affected. On top of this, extraordinary economic measures are required to prop up the economy—say, extensive public works. In the case of Croatia, though, the only thing on the government’s mind is taxation. Taxation in depression! Returning to my profession, no economist of any description in Croatia has anything to say about the way out of the doldrums. They are too busy making ends meet, it appears. But they, too, should feel ashamed of themselves deep into the tenth quarter of economic decline in the country.