Economy, asked by saadn0567, 4 months ago

explain the reasons why the classical theories of economic system failed at some point.

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Answered by pagareriddhi70

Answer:

Explanation: After 1929 a doubt was cast over the classical economic theory according to which government should not intervene in the economy. The 1929 crisis brought deflation,banks going bankrupt and massive unemployment with businesses shutting down in masses

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