MACROECONOMIC THOUGHTS PART 1

The evolution of macroeconomic thoughts and history though extremely complex are clearly interwoven with the protrusive fabric of mordern society.The blogger Ibikunle Laniyan peruses its brief history and the emergence of macroeconomic thoughts that shaped world economy.  The history of macroeconomic thoughts as well as the strategic ideology that underpins its explosive burst of the economic boom in mordern times, constitute the cradle of economic thoughts  and dynamic evolution . Macroeconomic theory invariably has its cradle in the study of business cycles and monetary theory.It is common among early theorists that monetary factors could not affect real factors such as  real outputs . When John Maynard Keynes came, he attacked some of this classical theories, then produced breathtaking general theory that described and capture the aggregate terms of the whole economy for the first time, rather than as an individual mic roeconomic parts. He debunked claims by classical economists that markets would always clear, without surplus of goods and zero idle labour left . He also attacked views by people and businesses to hoard cash and avoid investment during a recession.When the generation of cm economists that followed Keynes emerged they synthesized neoclassical microeconomics with his theory to form neoclassical synthesis.