Page 13 - DECO402_MACROECONOMIC_THEORY_PUNJABI

iekweI-1: smStI ArQSwsqr dw pircX

iehdy iv`c suDwr hox lgdw hY qd iehƒ punruqQwn (Recovery) dI isQqI ikhw jWdw hY Aqy jd ieh AwpxI È؇
crm sImw iqkr puMj jWdI hY, qd iehƒ qyjI (Boom) dI isDqI ikhw jwdw hY[ mMdI Aqy AqiDk mMdI inmn
lwB dI siQqI huMdI hY[ ies siQqI iv`c sImwnq Prmy (Marginal Firms) bMd hox lgdI hY, invyS dI mwqrw
iv`c BwrI kmI ho jWdI hY Aqy byrojgwrI Kqrnwk rup Dwrx kr lYdI hY[ iesdy ivprIq, qyjI dI iSQqI v`D
rhy lwBW dI isDqI huMdI hY ijs iv`c invyS dI mwqrw Aqy aqpwdn dy sMDwnW dI mMg inrNqr v`DDI jWdI hY[
vpwirk ck`r iksI iek ivSyS Prm jw iek ivSyS vpwirk kirXw qk hI sIimq nhI rhWdI[ ieh iek smStI
Gtnw hY jyVI kI dyS dy swry aqpwdn iekeIAw ƒ Awpxy Gyry iv`c lY lMdI hY[vwsqv iv`c kdI-kdI ieh iek
Bum`flIX Gtnw (Global Phenomenon) bn jWdI hY ijvyjI 1930 dy dSk dI mhwmMdI[ieh iDXwn dyx vwlI
g`l hY ik smStI ArQ Swsqr dI iek prIDk AiDAn dI SwKw dy rup qy aqpqI dw SyX[1930 dy dSk dI
AqXiDk mMdI (Depression of 1930’s) ƒ ikhw jwdw hY[ ies AviD dy dorwx, sMswr dI pujIvwdI ArQ-
ivvsQwAW, ivSySkr XU. ky., iv`c Gor byrojgwrI peI gweI sI[Xu. ky. dI ArQ-ivvsQwAW iv`c byrojgwrI dI dr
25% puMj cukI sI[ ieho ijhy smW iv`c ivSv dy mhwn ArQ SwsqrI lw`rf kynj ny Awmdn Aqy rojgwr isDWq
(Theory of Income and Employment) Aqy smrg mMg iv`c kmI (Deficiency of Aggregate Demand)
dy kwrx pYdw hueI byrojgwrI dI smisAw dy BumflIX aupcwr dw p@iqpwdn ikqw sI[
vwsqv iv`c iek ArQ-ivvsQw dw ck`r clx Awpvy Awp iv`c iek v`DI smStI ArQ Swsqr sMbDI smisAw
hY, ijsdw smwDwn n isrP aqpwdkW ƒ blik srkwr ƒ vI FuFxw hMudw hY[ aqpwdkW ƒ iehO ijhI rxnIiq
ApnwnI hUMdI hY ijsdy nwl mMdI Aqy qyjI dI siQqI dw swmxw kIqw jw sky[ srkwr ƒ ieho ijihAW nIiqAw
dw inrmwx krxw hMudw hY ijdy nwl vpwirk ck`r dy prBwv ƒ nXUnqm ikqw jw sky Aqy AwriQk sMvirDI dy
siQr mwrg ƒ suiniScq ikqw jw sky[

(4) mudrw sPIiq (Inflation)
mudrw sPIiq aus siQqI ƒ khdy hn ijs iv`c swmwnA kImq p`Dr (ArQ-ivvsQw dI vsquAW Aqy syvwvW
dI AOsq kImq) iv`c iek inScq smW AviD iv`c inrqr v`Dwxy dI prviq peI jWdI hY[ PlsvrUp mudrw
dw mul G`tdw hY Aqy lokW dI vwsqivk krX-SkqI G`t hO jWdI hY[ieh vI iek smStI ArQ Swsqr sMbDI
smisAw hY ijhƒ smJxw Aqy ijsdw smwDwn krxw bhuq jrUrI hY[
kImqW iv`c mwmulI vwDw AwriQk sMvirDI iv`c jrUrI huMdw hY[ies nwl invyS ƒ vFwvw imldw hY Aqy AwriDk
kirAw dw smucw p`Dr py@irq hMudw hY[ pr mudrw sPIiq kdy – kdy doVdI mudrw sPIiq (Galloping Infla-
tion) Aqy Aiq mudrw sPIiq (Hyper Inflation) dw rup Dwrx kr ilNdw hY[Aiq mudrw sPIiq dI siQiq iv`c
aqpwdn dy swDwn mhgy ho jWdy hn[ invyS dI ibAwj lwgq iv`c ivSySkr BwrI virDI dI prviriq peI
jWdI hY[PlsvrUp Eqpwdn dy lwgq iv`c bhuq virDI ho jWdI hY Aqy vpwirk priqXoigqwqmk (Business
competitiveness) ksI hox lgdI hY, ivSySkr ivsv dy bwjwrW iv`c[ jd mMg dy Gtxy Aqy aqpwdn- lwgq
iv`c vDwxy dI prviriq peI jWdI hY[qd aqpwdn dI kirAw iv`c spSt rukwvt ho jWdI hY iehojI isDqI
iv`c ArQ-ivvsQw qyjI nwl mMdI Aqy mhwmMdI dI Aor v`DqI hY[
Awm AwdmI mudrw sPIiq dy kwrx gMBIr rup nwl pIiVq hY[ ausdI kRX-Skiq GtqI hY Aqy srkwr dy priq
asdw AsnqoS vDqw hY[swmwnX ASnqoS AKIr iv`c swmwijk ASwiq dw rup Dwrxkr ildW hY ijsdy kwrx
srkwr dI siQrqw ƒ Kqrw pY jwdw hY[ hikkq iv`c kImq-inXnqrx dy jirAy prOpkwr krxw Bwrq vwrgy
dySW dy leI inrvwcx GoSxw- pqrO dw iek Bwg bx igAw hY[ pirxwmsvrup, AiDkMS klXwxkwrI rwjXo iv`c
mudrw sPIiq pr kwbU pwx vwlI rxnIiqAw ƒ auc prwQimkqw dI jWdI hY[ ies vyly srkwrW dy leI auBr rhI
prmuK nIiq smisAw (Major Policy Problem) mudrw- sPIiq rihq sMvirDI (Growth without Inflation) hY[
(5) bjt sMbDI Gwtw Aqy rwjkoSIAw nIiq (Budgetary Deficit and Fiscal Policy)

ivSv dI ArQ-ivvsQwAW dy nIjIkrx Aqy BumNflIkrx qo bwd ivkws prkirAw iv`c srkwr dI prqXS
BwgIdwrI (Direct participation) (invySk dy rUp iv`c) holI- holI G`t hUMdI jw rhI hY[ Pyr vI klAwx sMbDI
kirAW dy ivSqwr dy kwrx srkwr dy bjt sMbDI KrcO iv`c virDI huMdI jw rhI hY[ ivSySkr priqrSw,
AwqMkvwd dw swmxw krx Aqy ienswP qy ivvsQw ƒ bxeI rKx dy leI srkwrI Krc iv`c virDI jwrI hY[

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