<P> From the perspective of debt, the Keynesian prescription of government deficit spending in the face of an economic crisis consists of the government net dis - saving (increasing its debt) to compensate for the shortfall in private debt: it replaces private debt with public debt . Other alternatives include seeking to restart the growth of private debt ("reflate the bubble"), or slow or stop its fall; and debt relief, which by lowering or eliminating debt stops credit from contracting (as it cannot fall below zero) and allows debt to either stabilize or grow--this has the further effect of redistributing wealth from creditors (who write off debts) to debtors (whose debts are relieved). </P> <P> Austrian theorist Henry Hazlitt argued that aggregate demand is "a meaningless concept" in economic analysis . Friedrich Hayek, another Austrian, wrote that Keynes' study of the aggregate relations in an economy is "fallacious," arguing that recessions are caused by micro-economic factors . </P>

If the overall price level decreases then the aggregate demand curve will shift to the right