MACROECONOMIC THOUGHTS.PART 23

Stood more than three times than that of 1900.A textbook economics had lamented:Does it means an average person in 2000 was three times better off than the average person of 1900?Certainly not an embarrasment to mainstream economists but a cummulative dent to the market intergrity they seek to protect.Business cycle tends,to stall steady growth momentum,an operative lacuna from which development cycle exploiting credit cycle is poised to bridge.Unfortunately,such notion in most cases would be considered quite obscene to economists in general.Does it mean the upward movement and downward movement of gross domestic products(GDP) also popularly known as trade cycle or economic cycle could be stopped?That is to ensure the mordern society is rid off of these twin evils.Infact not until Ronald Leo Sismondi was vindicated in the panic of 1825,classical economists largely denied the existence of business cycle.Likewise Robert Owen an utopian socialist and texture manufacturer in the Report to the Committee of the

    Milton Friedman