Finance theory categorises investors' attitudes to risk under three headings as risk averse, risk neutral and risk lover. The first is where investor prefers less risk to more, second where investor is indifferent to risk and finally the third where investors prefer more risk for less.

Conventional wisdom is that investors are risk averse. The higher the risk they associate with a particular investment, the higher the return they will demand.

During the last three decades of boom period, we breached this wisdom by taking risks beyond the capacity, funded by debt assuming the bull market will go on. The result is well known as a global financial system brought to the edge of collapse.

In this concise analysis of 21st century's first deep crisis, Zozan Yilmaz puts Leonardo Da Vinci's famous quote of "Simplicity is the ultimate sophistication" at the heart of "Between Recession and Depression" in consideration of all economic agents: be the investors, governments, companies or consumers.