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In 19291933 the Great Depression occurred at the United State According to Keynesians the causing of the Great Depression is for total demand not to be able to catch up with the amount of supply because of the world war there is an excess supply After the Great Depression Keynesian gained power instead of classic economists who argue an economy has a tendency naturally to cure recession or inflation lost their authority Additionally starting point of the Great Depression the Principle of Keynes Theory spread widely between governments and academic world However while 1970 years United State suffered from the Great Stagflation it brought about high unemployment and high inflation The president Jimmy Carter tried to practice an economic policy based on Keynes Principle though he didnt overcome the situation the Great Stagflation As a result people thought that is obvious evidence Keynes Economics was failed that situation was not able to be explained by Keynes Theory Finally Keynesian lost their authority on account of failing to stabilize economy However until today Keynes theory in a capitalist economy some external power should control economy situation is contributed to recovering economy where existed unemployment and inflation A look at a United State economy history is established that on overall prosperous days increase but little by little it is hard to circumvent a crisis such as inflation or unemployment Specifically monetary policy has been re-established by noted economists According to recent research monetary policy is one of measures in order to get rid of financial crisis but there is some side-effect as well Falling interest rates usually drive down the dollars value against other currencies Richar W Fisher Harvey Rosenblum 2009 P2 that causes huge effects indeed people generally think Economists still cannot say positively monetary policy directly brings about high inflation or unemployment but monetary is associated with them This paper is going to show you such as an insistence monetary policy is possible to
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