Keynesian World

In Keynesian world on one hand there is low aggregate demand, in that case there is low production, have excess capacity or unemployment, on the other side you have high aggregate demand and that is you have full employment but also you have lots of inflation and so these are there several harmful effects to the economy from this. In the there is an equilibrium which is full employment and zero inflation and later on in the Phillips Curve full employment at some minimal inflation rates small amount of inflation.