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monetarism
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At school I had learned Keynsian theory and now I was being taught monetarism and supply side economics.
Milton Friedman, the father of monetarism and free-market economics, sees little prospect of a return to the global deflation of the 1930s.
Similarly, central banks adopted monetarism with a fervor in the late 1970s and early 1980s, just as empirical evidence discrediting the underlying theories was mounting.
Both Milton Friedman's theory of monetarism and the rational expectations school of macroeconomics challenged the effectiveness of activist monetary policy.
In today's world of monetarism , economists often cite a ‘low inflation’ or ‘zero inflation’ policy as the optimum for the United States.
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