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Chapter_7 - Chapter 7 Economic Instability A Critique of...

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Chapter 7 Economic Instability: A Critique of the Self Regulating Economy
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Review of the Classical Position Say’s Law holds, so insufficient demand in the economy is unlikely. Wages, prices, and interest rates are flexible. The economy is self-regulating. Laissez-faire is the right and sensible economic policy to implement.
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