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Net Economics #Classical Economists and their work# Economic theory

 Net Economics #Classical Economists and their work# Economic theory Pls follow , like and share Classical economics, also known as classical political economy, is a school of economic thought that emerged in the late 18th and early 19th centuries. It laid the foundation for modern economics and was dominant until the late 19th century. Classical economists focused on understanding the mechanisms of economic growth, production, and distribution of goods and services in market economies significant contributions and the years in which they were active: Adam Smith (1723-1790): Major Work: "The Wealth of Nations" (1776) Contributions: Smith is often referred to as the father of economics. In "The Wealth of Nations," he introduced the concept of the invisible hand, arguing that individuals pursuing their own self-interest in a free market economy unintentionally promote the general welfare. He also discussed the division of labor, productivity, and the role of markets i

GREAT DEPRESSION 2020

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GREAT DEPRESSION 2020 In my previous article I already predicted great depression 2020 which u can read below. GREAT DEPRESSION 2020 (1) GREAT DEPRESSION 2020 (2) So present scenerio you all are noticeing that we all are moving towards great depression 2020. Unemployment rate rising towards more than 24 % which means out of our total workforce every fourth  person will be Unemployed. This is not shocking as i had already said in my previous articles.We have to face this situation. Now other situation which i had already predicted in my previous article that is Demand supply inbalance will create depression which you all are noticing . As you all know that Govt has open Economy but Business houses, traders are facing problem of Demand which is creating inbalance situation due to liquidity .To curb Liquidity Govt has given package of 20 lack cr in Economy but question again is that this huge package will reduce depression answer is certainly No because c

GREAT DEPRESSION 2020 Ugc net and other competitive exams

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GREAT DEPRESSION 2020 Ugc net and other competitive exams Great Depression 2020 The International Monetary Fund issued a stark warning on Tuesday about the coronavirus’s economic toll, saying that the world is facing its worst downturn since the Great Depression as shuttered factories, quarantines and national lockdowns cause economic output to collapse. The grim forecast underscored the magnitude of the shock that the pandemic has inflicted on both advanced and developing economies and the daunting task that policymakers face in containing the fallout. With countries already hoarding medical supplies and international travel curtailed, the I.M.F warned that the crisis threatened to reverse decades of gains from globalization. In its World Economic Outlook, the I.M.F. projected that the global economy would contract by 3 percent in 2020, an extraordinary reversal from early this year, when the fund forecast that the world economy would outpace 2019

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