Macroeconomics Concepts

The Great Depression breaks the old confidence

Mass unemployment and prolonged collapse exposed the limits of the self-correcting story and became the crisis marker that reordered macroeconomics.

Keynes and effective demand

Modern macro begins here: Keynes argued that economies can settle below full employment when aggregate demand is too weak.

The Great Inflation and stagflation

High inflation and weak growth arriving together shattered confidence in simple demand management and forced a rethink of inflation dynamics.

Financial crisis and empirical rebuild

The global financial crisis pushed macro back toward banks, leverage, systemic fragility, and sharper empirical identification.

Supply chains, inflation persistence, and plural methods

Recent inflation and supply disruptions reinforced that macro still needs more than one lens: policy, production, trade, logistics, and expectations now move together.