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- Grande Dépression: les entreprises tournaient en sous régime —> elles pouvaient très rapidement augmenter leur production pour faire face à un surplus de demande- Échec des politiques de relances de la fin des années 70 et 80: choc d'offre lié au choc pétroliers ont conduit les entreprises à baisser leurs capacités de production —> inflation par le demande, dette publique, pas de croissance (stagflation)
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