PRIMROSE PATH.PART 2

Not to one's laurels,did he lax to rest these pinions,with writ and wits more libertarian than the eagles and falcons at flight are.Rope he the swindler,his volatile leading strings and like liegeman beneath servitude,almost a deconium had vamoosed.Fugacity in forsooth evaporated like the winds,yet the leecher's swindle linger still.What a purloin,a messy purler,a sale of the pup,punted in the midst of purple passage.Barely,did he hold the purse string,to loosen stranglehold,from the pawn of the seller who sells the pup with the pomp of the confidence game.The bard sometimes pussyfoot of inquisition,to brawl the mahomet.Quizzical sometimes the swindler,held him in quod of quixotic pall,pusillanimous to give leecher his quittance.Not truly on the quivive,to drop his quiver tagged as quitter,by rabbles of the rabblerousers.And lo,quotidian ragbag of raison d'et.red optimism rabbitpunched his navel,to grope the dark all the colours of a rainbow of a cimmerian darkness.What a raindrop of gaunchy clouds rampy!

PRIMROSE PATH.PART 1

Memorabilia's meanest strike,mementoes in their hodgepodge,back and forth flee like a force majeure,forthright from foredoom to foreboom,merchant of memoirs sometimes meretricious mendest swoon.Upon this humdinger of a miasma,earthlings hump sometimes in hungermarch and frozen in hungerstrike,hung obstinately in humbug,the idolatory of the immaculate illusion as if the prerogatives of the dreamt in the dreamyard,refrains not landscaped delusion.This dreamyard pretense,a gallery player,as if pressgang by grimdeath,Prithee i predilection as of what primafacie,not of primp and preen to adorn the primrose path,bedecked with prevarication.This field chief primadonn,gullible above compare of mole infested quientessential primus interpares,kidgloves charmed more than delusion,stinks to his personage much more passionate than a rap over the knuckles.Behold,over this lawn of a young punk and punitive expedition,pitch the bard his tent,laundered by swindle,of mooreish infraction of confidence game,radiated his feet

MACROECONOMIC THOUGHTS.PART 12

applicable to today's mounting economic challenges.They showed otherwise that keynesian model largely misrepresented by their relationship the nature of saving,investment and economic growth.While the fiscal multiplier was recognised by the keynesian school,the money multiplier that deals with money self replication process,roots is monetarist.Both are dominant broad multipliers in macroecomicmanagement,the latter results from a system of fractional reserve banking.keynesians argued economies do not stabilise themselves too quickly unless there is governmental massive intervention to grow shortterm demand.The same with wages and employment,and prices barely respond too quickly until the monetary policy intervention is leveraged or applied.Consequently,slowdown change in terms of growth in short term demand and boost employment.There is no doubt the pioneering influence of keynesian economics that towered extremely like a colosus over the spectre of macroeconomic scholarship could not be whisked awayin a jiffy

MACROECONOMIC THOUGHTS.PART 11

instrument speaks volume of this theory of fiscal stimulus.It says every injection of government spending will lead to more business activity and much more spending.The theory proposes spending by nature boosts agregate output and skyrockets income generation.That workers extraincome would balloon gross domestic product beyond its initial stimulus proportion.The marginal propensity to consume is a function of the magnitude of keynesian multiplier as one workers spending spiral income for the next worker and the cyclical tradition of the worker's income being perpetually spent refers to the multiplier.keynesians say individuals should spend less and spend more,growing marginal propensity to consume,generate full employment and ensure economic growth.The demand side model dominated academic circles for decades unchallenged until the emergence of new generation of neoliberal economists such Milton Friendman and Murray Rothbard challenged him.The famous 1936 book that responded to time exigency then would not be

MACROECONOMIC THOUGHTS.PART 10

Keynes himself was engrossed in his writing during the turbulent period,when the world economy was burning over his head.Though embarrasingly obvious by findings,he did not trust the intergrity of the solution,he profered or fully subscribed to the model and albeit the abject skepticism,not utter belief in the proposed state of equilibrium. This was particularly comical for a man who taught classical economics at cambridge for years,prior to his change to tore down the entire fabric of the profession that endowed with livelihood.Nevertheless was skeptical of the private sector guarranteeing robust economy and championed interventionism.So,it was not surprising when he heavily criticised his home government of the period and the bias to cut welfare spending and raise taxes to balance national account.This discouraged consumer spending and blocked the economy from recovery to equilibrium state.In the keynesian counter cyclical fiscal policy's multiplier effect being one of the chief component of the policy

MACROECONOMIC THOUGHTS.PART 9

the inherent fear and doom it exudes in the spiral among businesses and investors,leading to sustainable of economic depression and engender massive unemployment.The countercyclical fiscal policy stipulates that government should embark on deficit spending to restore investment decline and boost consumer spending to grow agregate demand.His utter criticism of excessive savings if not for specific purpose such education and retirement was regarded as peril in waiting.A peril in waiting,given the fact that the stagnant nature of the sedentary money,will further stagnate the economy at large with less money circulating in the economy.Frankly speaking,it courted the model massive contempt or public ridicule from the generation of classical economists and free market or neoliberal exponents.This partly contributed to prevent total crash during the depression.Still it appears debatable to argue that even till date the market itself is selfregulating and tends to return to equilibrium state or that market clears.

MACROECONOMIC THOUGHTS.PART 8

to admit that for every macroeconomic model,there is a chronic limit,to the operative capacity of the latent theory in question to guarantee a given level of economic growth to give impetus to the strategic emergence of neomarsolism and post marsolism respectively.The great depression countered notion by classical economics that output and prices would eventually reverse to a state of equilibrium.Hence,during the period,output was so low and unemployment massively,a staggering 25percent of U.S. Population was unemployed.And to respond according to the exigency of the period,keynes first motivated millions of economists worldwide to think differently and then the entire world economy.He initiated radical applications that transformed human society during the crisis period.Now,through the countercyclical approach,for fiscal policy management,he rejected the idea of economy stabilising at the equilibrium state.That economic downturn once its spiral sets in,operate in a selfreplicating cycle and specifically the

MACROECONOMIC THOUGHTS.PART 7

and restore economic growth was the possible condition induced by lower inflation and wages.In the heat of great depression,the hypothesis became glaringly convincing.Whereas,during the recessions,structural rigidities and specific traits of the market economy,according to keynes in his book like other works would agravate economic condition and thereby plunge agregate demand into the abyss.He not only challenged the notion that lower wages would restore economic growth and full employment through the thesis but also that the production of goods that could not be sold by employers would not motivate them to add more employees;that poor business condition being faced by companies,would retard their capital investment,rather than taking advantage of lower prices to grow investment in plant and equipment,consequently,reduce agregate expenditures and employment.Little wonder they call it depression economics,deployed during the period,to salvage the sinking ship of capitalism.We may not be far from the truth

MACROECONOMIC THOUGHTS.PART 6

It deals with short run economic transition using government interventionist policy to agregate demand in order to address and battle economic recession,to a standstill.To respond to the need of the period,against the outdated norms,he was highly critical of the classical tradition,which favoured that natural increasing economic forces and similar incentives guarantees or is adequate to midwive economic recovery.It uses fiscal activism and monetary policy as basic tools to manage economy and fight unemployment.To put it differently it represented a new way of economy's critical assesment,specifically in the area of public spending,output and inflation.Now contrary to classical economic thinking that cyclical swings in employment and output are morally selfadjusting.That the probability of agregate demand fall and the consequences of the weakness linked to production and jobs,ordinarily leads to decline of prices and wages.Moreover,that employers tend to make capital investment and sustainably grow employment,

MACROECONOMIC THOUGHTS.PART 5

We cannot dispute the fact that when the British economist evolved keynesian economics it was simply oriented and driven by the theoretical and institutional exigencies of the turbulent period.This was perpetrated and initiated in an attempt to understand the great depression of the period during the 30s.The turbulent period naturally influenced the keynesian tradition.the economic theory of total spending and it advocated increased government expenditures and lower taxes,with the purpose of stimulating demand and pull world economy out of depression of the period.Then subsequently,it was used to categorise and quantify the possibility and attainment of the optimal concept of economic performance.To prevent economic slumps and strictly by influencing agregate demand through both stabilisation policy and government interventionist programs.The economic model by its formula was classified as demand driven that is demandside economics as opposed to supply creates its own demand by J.B.Says and classical school.