What Recession has taught us ?

Economic crisis caused global recession. Few major banks collapsed. It affected the whole world. This effect has made all economists to think.
Was that disaster avoidable? Economists rolled up their sleeves to think what caused this tension around the world? Economics is a theory which can predict the trajectory of global economy. It binds the world with principles which can be used to control the world order. Had we learnt from Great Depression of 29? We should have learn from the period to recover from any such hazard. Even entire cause of crisis not understood. We could know few mechanisms or parameter that lead to the crisis.
Considering pros and cons of different macroeconomic models, better to survive the world? Depression had terrified all private sectors after major banks collapsed. Unemployment spread around in every country.

Kenesian Theory of Economics is told to controlling the all economic principles.


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