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picture1_Classical Economics Pdf 129642 | 202004290111528ef7f54c16


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File: Classical Economics Pdf 129642 | 202004290111528ef7f54c16
M.A. Economics (Semester-II) Macroeconomics-II: ECON4007 NEW CLASSICAL ECONOMICS (Part – A) Shreedhar Satyakam Department of Economics Mahatma Gandhi Central University, Bihar 1 NEW CLASSICAL ECONOMICS The classical economists maintained ...

icon picture PDF Filetype PDF | Posted on 02 Jan 2023 | 2 years ago

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...M a economics semester ii macroeconomics econ new classical part shreedhar satyakam department of mahatma gandhi central university bihar the economists maintained that economy possesses self correcting properties in form price flexibility it would automatically correct any tendency for real aggregate demand to be too high or low this idea dominated prior s great depression discredited old approach based on flexible prices and correction keynesian theory rigid nominal wages until late inflation undermined its dominance provided increasing credibility influence those who warned activism was both over ambitious fundamentally flawed milton friedman launched monetarist counter revolution against policy challenged orthodox insistence relatively levels unemployment are achievable via use expansionary during another group argued keynesians had failed explore full implications endogenously formed expectations behaviour economic agents...
								

							

						
	
												
				
					
					
					
			
					
				
				
		
	

	
		





	

	
				

						

						
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Posted on: 02 Jan 2023 | 2 years ago
										
										
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