Canadian english professor dr. marshall mcluhan—who coined the term "media" to refer to vehicles of mass communication—famously said, "the medium is the message." this pithy "probe" meant that the media don't merely transmit messages: the medium itself also has a direct impact on how society and individuals think and act—and the dominant medium at any given time is the main agent of social change.

The above given statement is true and he coined the term media referring the vehicles of the mass communication. He is from Canada who developed a study on media theory and also worked in the adverting and television industries. He predicted about the present day concept of globalization way before in those days.

In financial aspects, a depression is a sustained, long haul downturn in monetary movement in one or more economies. it is a more extreme monetary downturn than a recession, which is a slowdown in financial action through the span of a typical business cycle. a depression is an irregular and extreme type of recession. so depression is always followed by recession but it is not correct to state that a depression always follow a recession.