topic neoclassical ★ seed

Monetarism

Milton Friedman's counter-revolution (1960s-1980s). Inflation is always and everywhere a monetary phenomenon. Central banks should target money supply growth, not fine-tune with fiscal policy.

#monetarism #friedman #money-supply #inflation

Sub-topics

Milton Friedman concept

Nobel laureate (1976). A Monetary History of the United States (1963) blamed the Great Depression on Fed policy. Champion of free markets, school choice, and the natural rate of unemployment.