Page 118 - DECO402_MACROECONOMIC_THEORY_PUNJABI

smStI ArQSwsqr dy isDWq

È؇ ijjw sc hY ijsƒ iek AnpF ivAkqI vI jwxdw hY[ iehdy rwhI ieh pwqw nhI cwldw hY ik mudrw
dI purqI iv`c bdlwv hox dy kwrx kImq p`Dr iv`c hox vwly bdlwv dI vwsqivk pRkirAw kI hY Aqy
ien q`qW iv`c kyVw q`q kwrx hY Aqy kyVw pirmwx hY[ iedy rwhI ieh vI pwqw nhI cwldw kI mudrw
dI purqI jw pirxwm iv`c bdlwv ikau huMdy hn? ieh qW kyvl iek smwnqw (Identity) hI d`sdw hY[
2. Avwsqivk mWnqwvW (Unrealistic Assumption) – ieh isDWq ies Avwsqivk mWnqw qy AwDwirq
hY ik kImq p`Dr qy kyvl mudrw dI mwqrw iv`c hox vwly bdlwv dw hI pRBwv pYdw hY[ smIkrx dy hor
q`q ijvy V, V’ Aqy Y ƒ siQr mMn ilqw jwdW hY Aqy ienW dI kImq p`Dr qy koeI pRBwv nhI pYdw[
vwsqivk jIvn iv`c AsI vyKdy hY ik q`q kdy iv siQr nhI rihNdy Aqy ienW iv`c hox vwly bdlwv nwl
kImq p`Dr iv`c vI bdlwv huMdw hY[
3. cr svqMqr nhI hY (Variables are not Independent) – iPSr dI ieh mWnqw hY ik M, M’, V,V’
Aqy Y svqMqr cr hY Bwv iek dw dusry qy koeI pRBwv nhI pYdw[ pr vwsqivk jIvn iv`c AsI vyKdy
hY ik ieh cr iek-dusry nwl svqMqr nhI huMdy[ iksy iek cr iv`c bdlwv, ijvy Y, dw dusry crW qy
vI pRBwv pYdw hY[
4. iekpSIX (Lop-Sided) – Awlocko dy muqbwk, ieh isDWq mudrw dI mMg dI ApySw mudrw dI puriq qy
v`D bl iddW hY[ iPSr ny mudrw dI mMg siQr mMn kr kImq inrDwrx dI mMg dy pRBwv ƒ smwpq kr
idqw hY[ iPSr dy muqwibk, kyvl mudrw dI purqI iv`c bdlwv hox nwl hI kImq p`Dr iv`c bdlwv
ho jwdW hY[ iehdw Bwv ieh hY ik ieh isDWq iv`c mudrw dy kyvl ‘ivinmX dy miDAm’ (Medium of
Exchange), kMm ƒ hI mhqv idqW jwdW hY Aqy ‘mul dy sMcX’ (Store of Value) kMm dI Avhylnw
kIqI geI hY[ ies leI iekpSIX isDWq hY[
5. kImq p`Dr iek inSikirA q`q nhI hY (Price Level is not a Passive Factor) – ies isDWq dI
ieh mWnqw vI glq hY ik kImq p`Dr iek inSkirAw q`q hY[ hikkq iv`c kImq p`Dr iek skirAw
q`q hY[ kImq p`Dr iv`c hox vwly bdlwv dy kwrx ivAwpwr dI mwqrw (Y) qy pRBwv pYdw hY, ikauik
kImqW iv`c virDI hox nwl lwBW iv`c virDI huMdI hY[ pirxwmsvrup ivAwpwr (Y) iv`c Aqy mudrw dI
mwqrw iv`c virDI huMdI hY[ iesleI kImqW iv`c hox vwlI virDI dy kwrx mudrw dI mwqrw iv`c virDI
hMudI hY Aqy kImqW iv`c G`t hox nwl mudrw dI mwqrw G`t ho jWdI hY[
6. kyvl purx rojgwr dI siQqI qy lwgu hodI hY (Applicable only in Case of Full Employment)–
mudrw dw pirmwx isDWq kyvl purx rojgwr dI siQiq qy lwgu huMdw hY[pr kynj dy muqwibk, ArQ-
ivvsQwvW Apurx rojgwr dI siQiq iv`c vI ho skdI hY[ iehojI ArQ-ivvsQwvW iv`c mudrw dI mwqrw
iv`c viriD hox qy aqpwdn iv`c n ik kImqW iv`c viriD hodI hY[
7. ivAwpwirk ckrW dI ivAwiKAw krx iv`c AsPl (It Fails to Explain Trade Cycles) – kRwaQr
dy muqwibk, “pirmwx isDWq v`D qo v`D ivAwpwr ckrW dy kwrxW dw Apurx mwrgdrSk hY[”(The
quantity theory is at best an imperfect guide to the cause of trade cycle. – Crowther) ies
isDWn nwl ieh pwqw nhI c`ldw kI mMdI dy idnW iv`c mudrw dI mwqrw ƒ v`Dx nwl vI kImq ikau
nhI v`DdI hY Aqy qyjI dy idnW iv`c bgYr mudrw dI mwqrw iv`c ivrDI ikqy kImqW ikE v`D jWdI hn?
iesdw shI kwrx hY ik mNdI dy idnW iv`c mudrw dI cln giq G`t ho jWdI hY Aqy qyjI dI siQiq iv`c
ieh v`D jWdI hY[ pr isDWq qW mudrw dI cln giq ƒ siQr mMn lYdw hY[ vwsqv iv`c mudrw dI cln
giq iv`c bdlwv huMdw rihdW hY[
8. AsMgq (Inconsistent) – hw`m (Halm) dy muqwibk mudrw dw pirmwx isDWq AsMgq hY[ ies iv`c
mudrw dI mwqrw ijdw sMbD smy ibMdu nwl hY Bwv jyVw iek stw`k (Stock) jW AgqXwqmk Dwrxw hY
cln giq ijdw sMbD smy Avid dy nwl hY Bwv jyVw iek pRvwh jw gqXwqmk Dwrxw hY dy nwl guxw
krky mudrw ƒ pRwpq krx dw Xqn kIqw igAw hY[ ieho ijhw qknIkI njr qo asMgq (Technically
Inconsistent) hY[
9. ibAwj dI dr dy pRBwv dI Avhylnw (It Ignores the Effects of Rate of Interest) – ieh isDWq
kImqW auqy ibAwj dI dr dy pRBwv dI Avhylnw krdw hY[lwrfkyz,hwtRy Aqy pRo. hwXk Awid dy Anuswr

112 LOVELY PROFESSIONAL UNIVERSITY