 The Rise and Fall of MonetarismChapter Chapter 14 in Competing Schools of Economic Thought, 2024, pp 341-364 from Springer Abstract: Abstract The purpose of this chapter is to present and critically evaluate the fundamental principles of the monetarist school of economic thought. Monetarism asserts that the quantity of money is the most crucial economic variable, with its fluctuations significantly influencing the behavior of the entire economic system. Coined in 1968 by Karl Brunner (1916–1989), the term “Monetarism” encompasses a school of economic thought that includes influential figures like Milton Friedman (1912–2006), Anna Schwartz (1915–2012), Karl Brunner himself, and Allan Metzler (1928–2017). However, Monetarism has roots dating back to the early nineteenth century. As explained in Chap. 10 , the University of Chicago steadfastly upholds a free-market stance, advocating for minimal government intervention. Monetarism, closely associated with the University of Chicago, seeks to explicate significant economic phenomena by emphasizing a singular variable, that is, the money supply. Keywords: Monetary policy; Central Bank; Phillips curve; Money supply; Monetary authority (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:spshcp:978-3-031-58580-7_14 Ordering information: This item can be ordered from DOI: 10.1007/978-3-031-58580-7_14 Access Statistics for this chapter More chapters in Springer Studies in the History of Economic Thought from Springer |
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