Page 254 - DECO402_MACROECONOMIC_THEORY_HINDI

lef"V&vFkZ'kkL=k osQ fl¼kar

uksV fu;kZr djuk iM+rk gSA bu dkj.kksa ls foo'k gksdj cSadksa dks C;kt dh njsa c<+kuh iM+rh gSa vkSj os mèkkj nsus ls
badkj dj nsrs gSaA cfYd os O;kikjh leqnk; dks dtkZ pqdkus osQ fy, dgrs gSaA blls O;kikfjd eanh dh
vko';drk 'kq: gks tkrh gSA
cSadksa dk dtkZ pqdkus osQ fy, O;kikjh viuk eky cspus yxrs gSaA blls dherksa osQ fxjus dh izfØ;k 'kq: gks
tkrh gSA O;kikjh yksx mRikndksa dks fn, x, vius vkMZj Hkh oSaQly dj nsrs gSaA ek¡x fxj tkus osQ dkj.k] mRiknd
viuh mRiknu lfØ;rk ?kVk nsrs gSaA blls vkxs] mRiknu osQ lkèkuksa dh ek¡x fxj tkrh gSA csjkstxkjh iSQyrh gSA
vk; fxj tkrh gSA fxjrh gqbZ ek¡x] dhersa ,oa vk;µ;s lHkh eanh osQ lwpd gSaA cSadksa dk dtkZ pqdkus esa vleFkZ
oqQN iQes± fnokfy;k gks tkrh gSa vkSj bl izdkj cSadksa dks etcwj dj nsrh gSa fd os viuh lk[k esa vkSj laoqQpu
djsaA bl izdkj leLr izfØ;k lap;h cu tkrh gS vkSj vFkZO;oLFkk dks eanh esa èkosQy nsrh gSA

gkVªs osQ vuqlkj] iqu#RFkku dh izfØ;k cgqr èkhes rFkk #d&#d dj pyrh gSA tc eanh pyrh jgrh gS rks tks
Hkh dher feys mlh ij O;kikjh viuk LVkWd cspdj cSadksa dk dtkZ pqdkrs gSaA ifj.kker% cSadksa dh fjtoks± esa
eqæk vkus yxrh gS vkSj cSadksa osQ dks"k c<+rs gSaA ;|fi cSad&nj cgqr de gksrh gS] fiQj Hkh lk[k xfrjksèk (credit
deadlock) cuk jgrk gS tks vk£Fkd lfØ;rk esa fujk'kkokn osQ dkj.k O;kikfj;ksa dks cSadksa ls mèkkj ls ysus ls
jksosQ j[krk gSA osaQnzh; cSad bl xfrjksèk dks lLrh eqnzk uhfr viukdj lekIr dj ldrk gS] tks varr% vFkZO;oLFkk
esa iqu#RFkku yk,xkA

vkykspuk,¡ (Criticisms)

izQhMeSu (Friedman) tSls eqnzk&fl¼kfUr;ksa us gkVªs osQ fl¼kar dk leFkZu fd;k gSA ijarq vfèkdk¡'k vFkZ'kkfL=k;ksa
us mldh bl ckr ij vkykspuk dh gS fd mlus pØh; mrkj&p<+koksa dh O;k[;k djus esa ekSfnzd lkèkuksa ij
vfrcy fn;k gS vkSj xSj&ekSfnzd lkèkuksa dh mis{kk dh gSA ftu ckrksa ij gkVsª osQ fl¼kr dh vkykspuk dh xbZ
gS] muesa ls oqQN dh ppkZ uhps dh tk jgh gSA
1- lk[k izlkj ;k laoqQpu rsth vFkok eanh ugha yk ldrk (Expansion or Contraction of Credit cannot
bring Boom or Depression)µbl ckr ls dksbZ Hkh bUdkj ugha dj ldrk fd lk[k dk izlkj gksus ls
O;kikj fØ;k dk foLrkj gksrk gSA ijarq gkVªs ekurk gS fd lk[k izlkj ls rsth vkrh gSA ;g Bhd ugha gS
D;ksafd rsth dk dkj.k lk[k izlkj ugha gSA tSlk fd ihxw us y{; fd;k gS ¶cSad eqnzk iw£r esa gksus okys
ifjorZu O;kikj pØ dk vax gS] dkj.k ughaA¸ eanh dh vafre fLFkfr esa Í.k lqxerk ls miyCèk gksrk
gS] ijarq fiQj og iqu#RFkku ykus esa vleFkZ jgrk gSA blh izdkj] lk[k&laoqQpu eanh ugh yk ldrk gSA
cgqr gqvk] rks og eanh osQ fy, fLFkfr;k¡ ek=k mRiUu dj ldrk gSA bl izdkj lk[k dk izlkj ;k laoqQpu
vFkZO;oLFkk esa u rks rsth vkSj u gh eanh yk ldrk gSA

2- le`f¼ vuardky osQ fy, pykbZ ugha tk ldrh vkSj eanh jksdh ugha tk ldrh (Prosperity cannot be
continued and Depression cannot be delayed indefinitely)µgSCkyZj us gkVªs osQ bl roZQ dh
vkykspuk dh gS fd ¶O;kikfjd rsth osQ Hkax osQ fy, lnk ekSfnzd dkj.k gh mÙkjnk;h jgrk gS vkSj ;fn
eqnzk iw£r vuar gks] rks vfuf'pr dky osQ fy, le`f¼ pyrh jg ldrh gS vkSj eanh dks jksdk tk ldrk
gSA¸ ijarq rF; ;g gS fd ;fn ns'k esa eqnzk dh iw£r vuar Hkh gks] rks Hkh u rks le`f¼ dks vuardky osQ
fy, pyk;k tk ldrk gS vkSj u gh eanh dks vfuf'prdky rd LFkfxr fd;k tk ldrk gSA
3- O;kikjh osQoy cSad lk[k ij fuHkZj ugha (Traders not dependent only on Bank Credit)µgkVªs us vius
fo'ys"k.k eas Fkksd&fooszQrk dks tks dk;ZHkkx fn;k gS] mldh vkykspuk izks- gSEcxZ us dh gSA gkVªs osQ fl¼kar
esa izeq[k O;fDr O;kikjh ;k Fkksd fooszQrk gSa tks cSadksa ls mèkkj ysrk gS vkSj mRFkku ;k iru ykuk 'kq: djrk

248 LOVELY PROFESSIONAL UNIVERSITY