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lef"V&vFkZ'kkL=k osQ fl¼kar



                  uksV          (;gk¡ P : dher Lrj_ M : eqnzk dh ek=kk_ T : le; osQ ,d fuf'pr ¯cnq ij oLrqvksa rFkk lsokvksa dh [kjhnh
                                x;h ek=kk_ k : T dk og Hkkx ftls yksx udn :i esa j[kuk pkgrs gSa)
                                jkcVZlu osQ lehdj.k dks ihxw osQ lehdj.k ls vfèkd vPNk le>k tkrk gS D;ksafd ;g ljy gSA

                                vkykspuk (Criticism)

                                ,-lh-,y-Ms osQ 'kCnksa esa] ¶;|fi ifjek.k fl¼kar dk oSQfEczt n`f"Vdks.k] fiQ'kj osQ n`f"Vdks.k ls vfèkd
                                mÙke gS] ¯drq ;g vius vki esa ,d i;kZIr ekSfnzd fl¼kar ugha gSA bldh detksjh ;g gS fd ;g
                                vk£Fkd O;oLFkkvksa dh tfVyrk ij i;kZIr fopkj djus osQ fy, vR;ar ljy gSA¸ (Although the
                                Cambridge version of the Quantity Theory represented a big advance on the Fisher version, it is not
                                in itself an adequate monetary theory. Its weakness is that it is too simple to deal adequately with
                                the complexities of economic system.–A.C.L. Dey)

                                oSQfEczt lehdj.k dh eq[; vkykspuk,¡ bl izdkj gSaµ
                                1-  vokLrfod ekU;rk (Unrealistic Assumption)µbl fl¼kar esa oqQN rÙoksa tSls k vkSj T dks fLFkj eku
                                fy;k x;k gSA ¯drq okLrfod thou esa u rks ‘k’, ‘T’ vkSj u gh ‘R’ vFkok ‘O’ dHkh fLFkj jgrs gSa] buesa
                                ifjorZu gksrk jgrk gSA

                                2-  lV~Vk mís'; osQ fy, eqnzk dh ek¡x dh vogsyuk (Ignores Speculative Demand for Money)µ;g
                                fl¼kar eqnzk dh ek¡x dh iw.kZ O;k[;k ugha djrkA blosQ vuqlkj eqnzk dh ek¡x osQoy ysu&nsu (Transaction)
                                rFkk lkoèkkuh (Precautionary) mís';ksa osQ fy, gh dh tkrh gSA bl fl¼kar esa lV~Vk mís'; (Speculative
                                Motive) osQ fy, eqnzk dh ek¡x dh vogsyuk dh xbZ gSA
                                3-  pØh; roZQ (Circular Reasoning)µudn 'ks"k fl¼kar esa] pØh; roZQ dk nks"k ik;k tkrk gSA bl fl¼kar
                                osQ vuqlkj] ,d vksj] dher Lrj (P) ;k eqnzk dk ewY;] udn 'ks"k (k) }kjk fuèkkZfjr gksrk gS ¯drq nwljh vksj]
                                dher Lrj (P) ;k eqnzk dk ewY;] udn 'ks"k (k) dks fuèkkZfjr djrk gSA vr,o bl fl¼kar esa pØh; roZQ dk
                                nks"k ik;k tkrk gS] tgk¡ rd fd] eqnzk dk ewY; udn 'ks"k dks fuèkkZfjr djrk gS rFkk udn 'ks"k eqnzk osQ ewY;
                                dks fuèkkZfjr djrk gSA ;g dkj.k rFkk ifj.kke (Causal Relationship) dk lacaèk LFkkfir djus esa vliQy jgk gSA
                                4-  viw.kZ fl¼kar (Incomplete Theory)µudn 'ks"k fl¼kar ,d viw.kZ fl¼kar gSA ;g fl¼kar udn dks"kksa
                                (k) osQ fu/kZj.k esa osQoy ,d rÙo] vFkkZr~ vk; (R) dks gh egÙo nsrk gSA ¯drq okLro esa udn dks"k dbZ vU;
                                rÙoksa tSlsµdher Lrj] ekSfnzd vknrksa] O;kolkf;d <k¡ps vkfn ij fuHkZj djrk gSA fl¼kar esa bu rÙoksa dh
                                vogsyuk dh xbZ gSA
                                5-  C;kt dh nj osQ izHkko dh vogsyuk (It ignores the Effect of the Rate of Interest)µudn 'ks"k
                                fl¼kar dh ;g ekU;rk xyr gS fd eqnzk dh ek=kk rFkk dher Lrj esa izR;{k lacaèk ik;k tkrk gSA okLro esa] eqnzk
                                dh ek=kk esa ifjorZu gksus ij igys C;kt dh nj esa ifjorZu gksrk gSA C;kt dh nj esa ifjorZu osQ dkj.k fuos'k
                                dh ek=kk esa ifjorZZu gksrk gSA fuos'k dh ek=kk esa ifjorZu osQ dkj.k mRiknu dh ykxr esa ifjorZu gksrk gS vkSj
                                mRiknu dh ykxr esa ifjorZu osQ dkj.k dherksa esa ifjorZu gksrk gSA ¯drq bl fl¼kar esa ifjorZu dh bl roZQiw.kZ
                                izfØ;k dk dksbZ mYys[k ugha gSA

                                6-  okLrfod rÙoksa osQ izHkko dh vogsyuk (Ignores the Influence of Real Factor)µbl fl¼kar osQ
                                vuqlkj eqnzk osQ ewY; esa ifjorZu dk dkj.k eqnzk dh ek¡x esa gksus okyk ifjorZu gSA ¯drq eqnzk osQ ewY; ij dbZ
                                vU; okLrfod rÙoksa tSlsµcpr] fuos'k] vk; vkfn dk Hkh izHkko iM+rk gSA ;g fl¼kar bu okLrfod rÙoksa dh
                                vogsyuk djrk gSA



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