Azarbayjan e Sharqi
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Azarbayjan e Sharqi Travel on Writing during the depths of the Great Depression, he argued that economic downturns were caused by a lack of total (aggregate) demand. All of the purchasers in the economy consumers, businesses, and the government were simply not buying enough goods and services for the economy to be going ahead full steam. Firms, not needing to produce so much (because sales were slower), would cut back on production, causing real GDP to fall and unemployment to rise, in other words causing a recession. Could anything be done to get the economy back on track? Keynes’ prescription for the ailing economy (remember, at that time, capitalist economies worldwide were going through their worst Depression in history) was for the government to increase aggregate demand, either through reducing taxes or increasing government spending, thereby pumping the economy back up to good times. If only the government would take charge by manipulating aggregate demand, the Depression would soon be over. This method of manipulating aggregate demand is known as countercyclical FISCAL POLICY, because it was expressly designed to counter the business cycle, more particularly, to soften the hardships of contractions and to end recessions. This policy passed its first test with flying colors during World War II. Azarbayjan e Sharqi Travel 2016.