The Great Depression - SWNTQ

 

 The Great Depression

An Analysis of the Fall of Free Market Ideology and the Rise of Keynesian Economics

 

Introduction:

After decades of near-religious faith in the market's ability to self-regulate, Black Tuesday in October 1929 came to represent more than just a stock market crash. It was the collapse of an entire ideology. The Great Depression was not only an economic crisis but an intellectual one that exposed the failure of the free market to face major shocks and paved the way for the emergence of an intellectual savior with new ideas: John Maynard Keynes.

The Fall of the "Free Market" God:

Classical economic theory was based on the premise that the "invisible hand" would correct any disequilibrium in the market. But as banks collapsed, unemployment rates reached catastrophic levels, and hunger and despair spread, this god seemed to have fallen. Trust, the lifeblood of any economy, evaporated, and it became clear that waiting for the market to save itself was no longer a viable option.

The Birth of the Savior: The Revolutionary Ideas of John Maynard Keynes:

Amid this despair, the voice of British economist John Maynard Keynes emerged to offer a completely different vision. Keynes argued that in times of deep recession, the economy cannot pull itself out of a downward spiral. He proposed a revolutionary idea: the necessity of active state intervention. He called on governments to increase public spending (even if it meant running a budget deficit) to boost aggregate demand, create jobs, and restore confidence in the economy.

Conclusion:

The Great Depression was not just a historical event; it was a turning point that redefined the role of the state in the economy. This period witnessed the fall of the myth of the invincible market and the birth of Keynesian economics, which sees state intervention as a necessary "savior" in times of crisis. This conflict between the free market and the interventionist state still forms the core of many economic debates today.

  

SWNTQ - The Great Depression

 الكساد الكبير

 تحليل لسقوط أيديولوجية السوق الحر وصعود الاقتصاد الكينزي


مقدمة:

بعد عقود من الإيمان شبه الديني بقدرة السوق على تنظيم نفسه، جاء يوم الثلاثاء الأسود في أكتوبر 1929 ليمثل أكثر من مجرد انهيار لسوق الأوراق المالية. لقد كان انهيارًا لأيديولوجية بأكملها. الكساد الكبير لم يكن أزمة اقتصادية فحسب، بل كان أزمة فكرية كشفت عن فشل السوق الحر  في مواجهة الصدمات الكبرى، ومهدت الطريق لظهور منقذ فكري بأفكار جديدة: جون ماينارد كينز.


سقوط إله "السوق الحر":

كانت النظرية الاقتصادية الكلاسيكية تقوم على أن "اليد الخفية" ستصحح أي اختلال في السوق. لكن مع انهيار البنوك، ووصول معدلات البطالة إلى مستويات كارثية، وانتشار الجوع واليأس ، بدا أن هذا الإله قد سقط. لقد تبخرت الثقة ، التي هي شريان الحياة لأي اقتصاد، وأصبح واضحًا أن انتظار السوق ليقوم بإنقاذ نفسه لم يعد خيارًا قابلاً للتطبيق.

ولادة المنقذ: أفكار جون ماينارد كينز الثورية:

في خضم هذا اليأس، ظهر صوت الاقتصادي البريطاني جون ماينارد كينز ليقدم رؤية مختلفة تمامًا. جادل كينز بأنه في أوقات الركود العميق، لا يمكن للاقتصاد أن يخرج من دوامة الهبوط بنفسه. لقد طرح فكرة ثورية: ضرورة تدخل الدولة بشكل فعال. دعا الحكومات إلى زيادة الإنفاق العام (حتى لو أدى ذلك إلى عجز في الميزانية) لتعزيز الطلب الكلي، وخلق فرص عمل، وإعادة بث الثقة في الاقتصاد.

خاتمة:

لم يكن الكساد الكبير مجرد حدث تاريخي، بل كان نقطة تحول أعادت تعريف دور الدولة في الاقتصاد. لقد شهدت هذه الفترة سقوط أسطورة السوق الذي لا يُقهر، وولادة الاقتصاد الكينزي الذي يرى في تدخل الدولة "منقذًا" ضروريًا وقت الأزمات. هذا الصراع بين السوق الحر والدولة المتدخلة لا يزال يشكل جوهر الكثير من النقاشات الاقتصادية حتى يومنا هذا.


Location: Egypt

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