Economics Dictionary of ArgumentsHome
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| Monetarism: Monetarism is a school of economic thought that emphasizes the role of the money supply in determining economic conditions. Monetarists believe that governments can achieve price stability and long-term economic growth by controlling the growth rate of the money supply. See also Economy, Economic growth, Money supply, Demand for money, Money, Milton Friedman._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Dictionary of Arguments. | |||
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Economic Theories on Monetarism - Dictionary of Arguments
Landsburg I 32 Monetarism/Economic theories/Landsburg: The superficial reading is that by taking their eyes off the money supply, the authorities have rejected Friedman. The deeper reading is that by doing whatever is necessary to control the growth of the price level - keeping it gradual, steady, and predictable - they've been revealed as Friedmanites to the core. >Price level, >Money supply, >Demand for money, >Price. Time: They've digested the main message that at least by and large, money matters profoundly for prices in the long run and for economic activity in the short run. Nobody fully appreciated this before Friedman (some might have suspected it, but the statistical analysis to support those suspicions was unavailable). Everybody gets it now, and that knowledge has saved us from more than one catastrophe over the past several decades. >Inflation, >Recession._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. "Vs" indicates differences in content, not necessarily the chronological progression of a controversy. If a German edition is specified, the page numbers refer to this edition. |
Economic Theories Landsburg I Steven E. Landsburg The Essential Milton Friedman Vancouver: Fraser Institute 2019 |
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