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Explaining Unemployment in the Great Depression: Effective Demand versus Debt-Deflation

Summary:
10 01 18 Lec 8 of Adv Macro considers the Keynesian General Theory of Deficiencies in Aggregate Demand as source of unemployment. This seems to be insufficient, and must be supplemented by Debt-Deflation theory of Fisher, plus more details on micro-structure

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10 01 18 Lec 8 of Adv Macro considers the Keynesian General Theory of Deficiencies in Aggregate Demand as source of unemployment. This seems to be insufficient, and must be supplemented by Debt-Deflation theory of Fisher, plus more details on micro-structure


Asad Zaman
Physician executive. All opinions are my personal. It is okay for me to be confused as I’m learning every day. Judge me and be confused as well.

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