Great Depression cannot be handled by macroeconomics.
For the essence of macroeconomics, see the following article: NO.183 Principles of economic growth
The Great Depression occurs when the economic cycle is cut off. The economy is established by the economic cycle. Macroeconomics deals with an economy with an economic cycle. Therefore, macroeconomics cannot handle the Great Depression. An economy whose economic cycle has been interrupted collapses into a deflationary spiral. This is the Great Depression. I hear that way. ... However, at very low interest rates, it may not become a deflationary spiral.
The Great Depression process
A large number of unemployed people appear. Unemployed people cannot consume because they cannot earn income. As a result, many companies cannot sell their products, and corporate performance deteriorates. Many companies with poor performance dismiss workers. Furthermore, the company …