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