The modern public

The modern public - monetary policy . This basically...

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The modern public The modern public authority has a responsibility of promoting public welfare. It cannot play a passive role during such major economic crises. Again the classical school generally suggested that if there is any problem of inflation or deflation then public authority instead of directly intervening in the form of fiscal policy can use
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Unformatted text preview: monetary policy . This basically concerns the regulation of money supply. It may be said that the economy can be kept in order with the help of the monetary policy which operates indirectly. Keynes, however, opposes this argument. It can neither be effective nor adequate during the periods of widespread unemployment and such other major crises....
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