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Paperback Recession and Its Aftermath: Adjustments in the United States, Australia, and the Emerging Asia Book

ISBN: 8132217217

ISBN13: 9788132217213

Recession and Its Aftermath: Adjustments in the United States, Australia, and the Emerging Asia

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Book Overview

Market failure at medium intervals is inevitable in a capitalist economy. Such failures may not be seriously seen in the short run because market adjusts demand through hoarding of inventory or import of required goods and services. The market also adjusts demand in the long run through expansion of concerned industrial output and also by the entry of new firms. The crucial variable is price which also adjusts the commodity and the labor market. The...

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