CINXE.COM

<!doctype html> <html class="client-nojs skin-theme-clientpref-day mf-expand-sections-clientpref-0 mf-font-size-clientpref-small mw-mf-amc-clientpref-0" lang="en" dir="ltr"> <head> <base href="https://en.m.wikipedia.org/wiki/Monetarism"> <meta charset="UTF-8"> <title>Monetarism - Wikipedia</title> <script>(function(){var className="client-js skin-theme-clientpref-day mf-expand-sections-clientpref-0 mf-font-size-clientpref-small mw-mf-amc-clientpref-0";var cookie=document.cookie.match(/(?:^|; )enwikimwclientpreferences=([^;]+)/);if(cookie){cookie[1].split('%2C').forEach(function(pref){className=className.replace(new RegExp('(^| )'+pref.replace(/-clientpref-\w+$|[^\w-]+/g,'')+'-clientpref-\\w+( |$)'),'$1'+pref+'$2');});}document.documentElement.className=className;}());RLCONF={"wgBreakFrames":false,"wgSeparatorTransformTable":["",""],"wgDigitTransformTable":["",""],"wgDefaultDateFormat":"dmy","wgMonthNames":["","January","February","March","April","May","June","July","August","September","October","November","December"],"wgRequestId":"dda2c557-b5e9-4e59-b502-16adcd578dfb","wgCanonicalNamespace":"","wgCanonicalSpecialPageName":false,"wgNamespaceNumber":0,"wgPageName":"Monetarism","wgTitle":"Monetarism","wgCurRevisionId":1258740609,"wgRevisionId":1258740609,"wgArticleId":42423,"wgIsArticle" :true,"wgIsRedirect":false,"wgAction":"view","wgUserName":null,"wgUserGroups":["*"],"wgPageViewLanguage":"en","wgPageContentLanguage":"en","wgPageContentModel":"wikitext","wgRelevantPageName":"Monetarism","wgRelevantArticleId":42423,"wgIsProbablyEditable":true,"wgRelevantPageIsProbablyEditable":true,"wgRestrictionEdit":[],"wgRestrictionMove":[],"wgNoticeProject":"wikipedia","wgCiteReferencePreviewsActive":false,"wgFlaggedRevsParams":{"tags":{"status":{"levels":1}}},"wgMediaViewerOnClick":true,"wgMediaViewerEnabledByDefault":true,"wgPopupsFlags":0,"wgVisualEditor":{"pageLanguageCode":"en","pageLanguageDir":"ltr","pageVariantFallbacks":"en"},"wgMFMode":"stable","wgMFAmc":false,"wgMFAmcOutreachActive":false,"wgMFAmcOutreachUserEligible":false,"wgMFLazyLoadImages":true,"wgMFEditNoticesFeatureConflict":false,"wgMFDisplayWikibaseDescriptions":{"search":true,"watchlist":true,"tagline":false,"nearby":true},"wgMFIsSupportedEditRequest":true,"wgMFScriptPath":"", "wgWMESchemaEditAttemptStepOversample":false,"wgWMEPageLength":20000,"wgRelatedArticlesCompat":[],"wgCentralAuthMobileDomain":true,"wgEditSubmitButtonLabelPublish":true,"wgSectionTranslationMissingLanguages":[{"lang":"ace","autonym":"Acèh","dir":"ltr"},{"lang":"ady","autonym":"адыгабзэ","dir":"ltr"},{"lang":"alt","autonym":"алтай тил","dir":"ltr"},{"lang":"am","autonym":"አማርኛ","dir":"ltr"},{"lang":"ami","autonym":"Pangcah","dir":"ltr"},{"lang":"an","autonym":"aragonés","dir":"ltr"},{"lang":"ang","autonym":"Ænglisc","dir":"ltr"},{"lang":"ann","autonym":"Obolo","dir":"ltr"},{"lang":"anp","autonym":"अंगिका","dir":"ltr"},{"lang":"ary","autonym":"الدارجة","dir":"rtl"},{"lang":"arz","autonym":"مصرى","dir":"rtl"},{"lang":"as","autonym":"অসমীয়া","dir":"ltr"},{"lang":"ast","autonym":"asturianu","dir":"ltr"},{"lang":"av","autonym":"авар","dir":"ltr"},{"lang":"avk","autonym":"Kotava","dir":"ltr"},{"lang":"awa","autonym": "अवधी","dir":"ltr"},{"lang":"ay","autonym":"Aymar aru","dir":"ltr"},{"lang":"azb","autonym":"تۆرکجه","dir":"rtl"},{"lang":"ba","autonym":"башҡортса","dir":"ltr"},{"lang":"ban","autonym":"Basa Bali","dir":"ltr"},{"lang":"bar","autonym":"Boarisch","dir":"ltr"},{"lang":"bbc","autonym":"Batak Toba","dir":"ltr"},{"lang":"bcl","autonym":"Bikol Central","dir":"ltr"},{"lang":"bdr","autonym":"Bajau Sama","dir":"ltr"},{"lang":"bew","autonym":"Betawi","dir":"ltr"},{"lang":"bho","autonym":"भोजपुरी","dir":"ltr"},{"lang":"bi","autonym":"Bislama","dir":"ltr"},{"lang":"bjn","autonym":"Banjar","dir":"ltr"},{"lang":"blk","autonym":"ပအိုဝ်ႏဘာႏသာႏ","dir":"ltr"},{"lang":"bm","autonym":"bamanankan","dir":"ltr"},{"lang":"bn","autonym":"বাংলা","dir":"ltr"},{"lang":"bo","autonym":"བོད་ཡིག","dir":"ltr"},{"lang":"bpy","autonym":"বিষ্ণুপ্রিয়া মণিপুরী","dir":"ltr"},{"lang":"br","autonym": "brezhoneg","dir":"ltr"},{"lang":"bs","autonym":"bosanski","dir":"ltr"},{"lang":"btm","autonym":"Batak Mandailing","dir":"ltr"},{"lang":"bug","autonym":"Basa Ugi","dir":"ltr"},{"lang":"cdo","autonym":"閩東語 / Mìng-dĕ̤ng-ngṳ̄","dir":"ltr"},{"lang":"ce","autonym":"нохчийн","dir":"ltr"},{"lang":"ceb","autonym":"Cebuano","dir":"ltr"},{"lang":"ch","autonym":"Chamoru","dir":"ltr"},{"lang":"chr","autonym":"ᏣᎳᎩ","dir":"ltr"},{"lang":"ckb","autonym":"کوردی","dir":"rtl"},{"lang":"co","autonym":"corsu","dir":"ltr"},{"lang":"cr","autonym":"Nēhiyawēwin / ᓀᐦᐃᔭᐍᐏᐣ","dir":"ltr"},{"lang":"crh","autonym":"qırımtatarca","dir":"ltr"},{"lang":"cu","autonym":"словѣньскъ / ⰔⰎⰑⰂⰡⰐⰠⰔⰍⰟ","dir":"ltr"},{"lang":"dag","autonym":"dagbanli","dir":"ltr"},{"lang":"dga","autonym":"Dagaare","dir":"ltr"},{"lang":"din","autonym":"Thuɔŋjäŋ","dir":"ltr"},{"lang":"diq","autonym":"Zazaki","dir":"ltr"},{"lang":"dsb","autonym":"dolnoserbski","dir": "ltr"},{"lang":"dtp","autonym":"Kadazandusun","dir":"ltr"},{"lang":"dv","autonym":"ދިވެހިބަސް","dir":"rtl"},{"lang":"dz","autonym":"ཇོང་ཁ","dir":"ltr"},{"lang":"ee","autonym":"eʋegbe","dir":"ltr"},{"lang":"eml","autonym":"emiliàn e rumagnòl","dir":"ltr"},{"lang":"fat","autonym":"mfantse","dir":"ltr"},{"lang":"ff","autonym":"Fulfulde","dir":"ltr"},{"lang":"fj","autonym":"Na Vosa Vakaviti","dir":"ltr"},{"lang":"fo","autonym":"føroyskt","dir":"ltr"},{"lang":"fon","autonym":"fɔ̀ngbè","dir":"ltr"},{"lang":"frp","autonym":"arpetan","dir":"ltr"},{"lang":"frr","autonym":"Nordfriisk","dir":"ltr"},{"lang":"fur","autonym":"furlan","dir":"ltr"},{"lang":"fy","autonym":"Frysk","dir":"ltr"},{"lang":"gag","autonym":"Gagauz","dir":"ltr"},{"lang":"gan","autonym":"贛語","dir":"ltr"},{"lang":"gcr","autonym":"kriyòl gwiyannen","dir":"ltr"},{"lang":"gl","autonym":"galego","dir":"ltr"},{"lang":"glk","autonym":"گیلکی","dir":"rtl"},{"lang":"gn","autonym":"Avañe'ẽ","dir": "ltr"},{"lang":"gom","autonym":"गोंयची कोंकणी / Gõychi Konknni","dir":"ltr"},{"lang":"gor","autonym":"Bahasa Hulontalo","dir":"ltr"},{"lang":"gpe","autonym":"Ghanaian Pidgin","dir":"ltr"},{"lang":"gu","autonym":"ગુજરાતી","dir":"ltr"},{"lang":"guc","autonym":"wayuunaiki","dir":"ltr"},{"lang":"gur","autonym":"farefare","dir":"ltr"},{"lang":"guw","autonym":"gungbe","dir":"ltr"},{"lang":"gv","autonym":"Gaelg","dir":"ltr"},{"lang":"ha","autonym":"Hausa","dir":"ltr"},{"lang":"hak","autonym":"客家語 / Hak-kâ-ngî","dir":"ltr"},{"lang":"haw","autonym":"Hawaiʻi","dir":"ltr"},{"lang":"hi","autonym":"हिन्दी","dir":"ltr"},{"lang":"hif","autonym":"Fiji Hindi","dir":"ltr"},{"lang":"hr","autonym":"hrvatski","dir":"ltr"},{"lang":"hsb","autonym":"hornjoserbsce","dir":"ltr"},{"lang":"ht","autonym":"Kreyòl ayisyen","dir":"ltr"},{"lang":"hu","autonym":"magyar","dir":"ltr"},{"lang":"hyw","autonym":"Արեւմտահայերէն","dir":"ltr"},{"lang": "ia","autonym":"interlingua","dir":"ltr"},{"lang":"iba","autonym":"Jaku Iban","dir":"ltr"},{"lang":"ie","autonym":"Interlingue","dir":"ltr"},{"lang":"ig","autonym":"Igbo","dir":"ltr"},{"lang":"igl","autonym":"Igala","dir":"ltr"},{"lang":"ilo","autonym":"Ilokano","dir":"ltr"},{"lang":"io","autonym":"Ido","dir":"ltr"},{"lang":"is","autonym":"íslenska","dir":"ltr"},{"lang":"iu","autonym":"ᐃᓄᒃᑎᑐᑦ / inuktitut","dir":"ltr"},{"lang":"jam","autonym":"Patois","dir":"ltr"},{"lang":"jv","autonym":"Jawa","dir":"ltr"},{"lang":"ka","autonym":"ქართული","dir":"ltr"},{"lang":"kaa","autonym":"Qaraqalpaqsha","dir":"ltr"},{"lang":"kab","autonym":"Taqbaylit","dir":"ltr"},{"lang":"kbd","autonym":"адыгэбзэ","dir":"ltr"},{"lang":"kbp","autonym":"Kabɩyɛ","dir":"ltr"},{"lang":"kcg","autonym":"Tyap","dir":"ltr"},{"lang":"kg","autonym":"Kongo","dir":"ltr"},{"lang":"kge","autonym":"Kumoring","dir":"ltr"},{"lang":"ki","autonym":"Gĩkũyũ","dir":"ltr"},{"lang":"kl","autonym": "kalaallisut","dir":"ltr"},{"lang":"km","autonym":"ភាសាខ្មែរ","dir":"ltr"},{"lang":"kn","autonym":"ಕನ್ನಡ","dir":"ltr"},{"lang":"koi","autonym":"перем коми","dir":"ltr"},{"lang":"krc","autonym":"къарачай-малкъар","dir":"ltr"},{"lang":"ks","autonym":"कॉशुर / کٲشُر","dir":"rtl"},{"lang":"ku","autonym":"kurdî","dir":"ltr"},{"lang":"kus","autonym":"Kʋsaal","dir":"ltr"},{"lang":"kv","autonym":"коми","dir":"ltr"},{"lang":"kw","autonym":"kernowek","dir":"ltr"},{"lang":"lad","autonym":"Ladino","dir":"ltr"},{"lang":"lb","autonym":"Lëtzebuergesch","dir":"ltr"},{"lang":"lez","autonym":"лезги","dir":"ltr"},{"lang":"lg","autonym":"Luganda","dir":"ltr"},{"lang":"li","autonym":"Limburgs","dir":"ltr"},{"lang":"lij","autonym":"Ligure","dir":"ltr"},{"lang":"lld","autonym":"Ladin","dir":"ltr"},{"lang":"ln","autonym":"lingála","dir":"ltr"},{"lang":"lo","autonym":"ລາວ","dir":"ltr"},{"lang":"ltg","autonym":"latgaļu","dir": "ltr"},{"lang":"mad","autonym":"Madhurâ","dir":"ltr"},{"lang":"mai","autonym":"मैथिली","dir":"ltr"},{"lang":"map-bms","autonym":"Basa Banyumasan","dir":"ltr"},{"lang":"mdf","autonym":"мокшень","dir":"ltr"},{"lang":"mg","autonym":"Malagasy","dir":"ltr"},{"lang":"mhr","autonym":"олык марий","dir":"ltr"},{"lang":"mi","autonym":"Māori","dir":"ltr"},{"lang":"min","autonym":"Minangkabau","dir":"ltr"},{"lang":"ml","autonym":"മലയാളം","dir":"ltr"},{"lang":"mni","autonym":"ꯃꯤꯇꯩ ꯂꯣꯟ","dir":"ltr"},{"lang":"mnw","autonym":"ဘာသာမန်","dir":"ltr"},{"lang":"mos","autonym":"moore","dir":"ltr"},{"lang":"mr","autonym":"मराठी","dir":"ltr"},{"lang":"mrj","autonym":"кырык мары","dir":"ltr"},{"lang":"ms","autonym":"Bahasa Melayu","dir":"ltr"},{"lang":"mt","autonym":"Malti","dir":"ltr"},{"lang":"mwl","autonym":"Mirandés","dir":"ltr"},{"lang":"my","autonym":"မြန်မာဘာသာ","dir":"ltr"},{"lang":"myv", "autonym":"эрзянь","dir":"ltr"},{"lang":"mzn","autonym":"مازِرونی","dir":"rtl"},{"lang":"nah","autonym":"Nāhuatl","dir":"ltr"},{"lang":"nan","autonym":"閩南語 / Bân-lâm-gú","dir":"ltr"},{"lang":"nap","autonym":"Napulitano","dir":"ltr"},{"lang":"nb","autonym":"norsk bokmål","dir":"ltr"},{"lang":"nds","autonym":"Plattdüütsch","dir":"ltr"},{"lang":"nds-nl","autonym":"Nedersaksies","dir":"ltr"},{"lang":"ne","autonym":"नेपाली","dir":"ltr"},{"lang":"new","autonym":"नेपाल भाषा","dir":"ltr"},{"lang":"nia","autonym":"Li Niha","dir":"ltr"},{"lang":"nn","autonym":"norsk nynorsk","dir":"ltr"},{"lang":"nqo","autonym":"ߒߞߏ","dir":"rtl"},{"lang":"nr","autonym":"isiNdebele seSewula","dir":"ltr"},{"lang":"nso","autonym":"Sesotho sa Leboa","dir":"ltr"},{"lang":"ny","autonym":"Chi-Chewa","dir":"ltr"},{"lang":"oc","autonym":"occitan","dir":"ltr"},{"lang":"om","autonym":"Oromoo","dir":"ltr"},{"lang":"or","autonym":"ଓଡ଼ିଆ","dir":"ltr"},{ "lang":"os","autonym":"ирон","dir":"ltr"},{"lang":"pa","autonym":"ਪੰਜਾਬੀ","dir":"ltr"},{"lang":"pag","autonym":"Pangasinan","dir":"ltr"},{"lang":"pam","autonym":"Kapampangan","dir":"ltr"},{"lang":"pap","autonym":"Papiamentu","dir":"ltr"},{"lang":"pcd","autonym":"Picard","dir":"ltr"},{"lang":"pcm","autonym":"Naijá","dir":"ltr"},{"lang":"pdc","autonym":"Deitsch","dir":"ltr"},{"lang":"pms","autonym":"Piemontèis","dir":"ltr"},{"lang":"pnb","autonym":"پنجابی","dir":"rtl"},{"lang":"ps","autonym":"پښتو","dir":"rtl"},{"lang":"pwn","autonym":"pinayuanan","dir":"ltr"},{"lang":"qu","autonym":"Runa Simi","dir":"ltr"},{"lang":"rm","autonym":"rumantsch","dir":"ltr"},{"lang":"rn","autonym":"ikirundi","dir":"ltr"},{"lang":"ro","autonym":"română","dir":"ltr"},{"lang":"rsk","autonym":"руски","dir":"ltr"},{"lang":"rue","autonym":"русиньскый","dir":"ltr"},{"lang":"rup","autonym":"armãneashti","dir":"ltr"},{"lang":"rw","autonym":"Ikinyarwanda","dir":"ltr"},{ "lang":"sa","autonym":"संस्कृतम्","dir":"ltr"},{"lang":"sah","autonym":"саха тыла","dir":"ltr"},{"lang":"sat","autonym":"ᱥᱟᱱᱛᱟᱲᱤ","dir":"ltr"},{"lang":"sc","autonym":"sardu","dir":"ltr"},{"lang":"scn","autonym":"sicilianu","dir":"ltr"},{"lang":"sco","autonym":"Scots","dir":"ltr"},{"lang":"sd","autonym":"سنڌي","dir":"rtl"},{"lang":"se","autonym":"davvisámegiella","dir":"ltr"},{"lang":"sg","autonym":"Sängö","dir":"ltr"},{"lang":"sgs","autonym":"žemaitėška","dir":"ltr"},{"lang":"shi","autonym":"Taclḥit","dir":"ltr"},{"lang":"shn","autonym":"ၽႃႇသႃႇတႆး ","dir":"ltr"},{"lang":"si","autonym":"සිංහල","dir":"ltr"},{"lang":"skr","autonym":"سرائیکی","dir":"rtl"},{"lang":"sm","autonym":"Gagana Samoa","dir":"ltr"},{"lang":"smn","autonym":"anarâškielâ","dir":"ltr"},{"lang":"sn","autonym":"chiShona","dir":"ltr"},{"lang":"so","autonym":"Soomaaliga","dir":"ltr"},{"lang":"sq","autonym":"shqip","dir":"ltr"},{"lang": "srn","autonym":"Sranantongo","dir":"ltr"},{"lang":"ss","autonym":"SiSwati","dir":"ltr"},{"lang":"st","autonym":"Sesotho","dir":"ltr"},{"lang":"stq","autonym":"Seeltersk","dir":"ltr"},{"lang":"su","autonym":"Sunda","dir":"ltr"},{"lang":"sw","autonym":"Kiswahili","dir":"ltr"},{"lang":"szl","autonym":"ślůnski","dir":"ltr"},{"lang":"ta","autonym":"தமிழ்","dir":"ltr"},{"lang":"tay","autonym":"Tayal","dir":"ltr"},{"lang":"tcy","autonym":"ತುಳು","dir":"ltr"},{"lang":"tdd","autonym":"ᥖᥭᥰ ᥖᥬᥲ ᥑᥨᥒᥰ","dir":"ltr"},{"lang":"te","autonym":"తెలుగు","dir":"ltr"},{"lang":"tet","autonym":"tetun","dir":"ltr"},{"lang":"tg","autonym":"тоҷикӣ","dir":"ltr"},{"lang":"th","autonym":"ไทย","dir":"ltr"},{"lang":"ti","autonym":"ትግርኛ","dir":"ltr"},{"lang":"tk","autonym":"Türkmençe","dir":"ltr"},{"lang":"tl","autonym":"Tagalog","dir":"ltr"},{"lang":"tly","autonym":"tolışi","dir":"ltr"},{"lang":"tn","autonym":"Setswana","dir":"ltr"},{"lang": "to","autonym":"lea faka-Tonga","dir":"ltr"},{"lang":"tpi","autonym":"Tok Pisin","dir":"ltr"},{"lang":"trv","autonym":"Seediq","dir":"ltr"},{"lang":"ts","autonym":"Xitsonga","dir":"ltr"},{"lang":"tt","autonym":"татарча / tatarça","dir":"ltr"},{"lang":"tum","autonym":"chiTumbuka","dir":"ltr"},{"lang":"tw","autonym":"Twi","dir":"ltr"},{"lang":"ty","autonym":"reo tahiti","dir":"ltr"},{"lang":"tyv","autonym":"тыва дыл","dir":"ltr"},{"lang":"udm","autonym":"удмурт","dir":"ltr"},{"lang":"ur","autonym":"اردو","dir":"rtl"},{"lang":"ve","autonym":"Tshivenda","dir":"ltr"},{"lang":"vec","autonym":"vèneto","dir":"ltr"},{"lang":"vep","autonym":"vepsän kel’","dir":"ltr"},{"lang":"vls","autonym":"West-Vlams","dir":"ltr"},{"lang":"vo","autonym":"Volapük","dir":"ltr"},{"lang":"vro","autonym":"võro","dir":"ltr"},{"lang":"wa","autonym":"walon","dir":"ltr"},{"lang":"war","autonym":"Winaray","dir":"ltr"},{"lang":"wo","autonym":"Wolof","dir":"ltr"},{"lang":"xal","autonym": "хальмг","dir":"ltr"},{"lang":"xh","autonym":"isiXhosa","dir":"ltr"},{"lang":"xmf","autonym":"მარგალური","dir":"ltr"},{"lang":"yi","autonym":"ייִדיש","dir":"rtl"},{"lang":"yo","autonym":"Yorùbá","dir":"ltr"},{"lang":"yue","autonym":"粵語","dir":"ltr"},{"lang":"za","autonym":"Vahcuengh","dir":"ltr"},{"lang":"zgh","autonym":"ⵜⴰⵎⴰⵣⵉⵖⵜ ⵜⴰⵏⴰⵡⴰⵢⵜ","dir":"ltr"},{"lang":"zu","autonym":"isiZulu","dir":"ltr"}],"wgSectionTranslationTargetLanguages":["ace","ady","alt","am","ami","an","ang","ann","anp","ar","ary","arz","as","ast","av","avk","awa","ay","az","azb","ba","ban","bar","bbc","bcl","bdr","be","bew","bg","bho","bi","bjn","blk","bm","bn","bo","bpy","br","bs","btm","bug","ca","cdo","ce","ceb","ch","chr","ckb","co","cr","crh","cs","cu","cy","da","dag","de","dga","din","diq","dsb","dtp","dv","dz","ee","el","eml","eo","es","et","eu","fa","fat","ff","fi","fj","fo","fon","fr","frp","frr","fur","fy","gag","gan","gcr","gl","glk","gn", "gom","gor","gpe","gu","guc","gur","guw","gv","ha","hak","haw","he","hi","hif","hr","hsb","ht","hu","hy","hyw","ia","iba","ie","ig","igl","ilo","io","is","it","iu","ja","jam","jv","ka","kaa","kab","kbd","kbp","kcg","kg","kge","ki","kk","kl","km","kn","ko","koi","krc","ks","ku","kus","kv","kw","ky","lad","lb","lez","lg","li","lij","lld","lmo","ln","lo","lt","ltg","lv","mad","mai","map-bms","mdf","mg","mhr","mi","min","mk","ml","mn","mni","mnw","mos","mr","mrj","ms","mt","mwl","my","myv","mzn","nah","nan","nap","nb","nds","nds-nl","ne","new","nia","nl","nn","nqo","nr","nso","ny","oc","om","or","os","pa","pag","pam","pap","pcd","pcm","pdc","pl","pms","pnb","ps","pt","pwn","qu","rm","rn","ro","rsk","rue","rup","rw","sa","sah","sat","sc","scn","sco","sd","se","sg","sgs","sh","shi","shn","si","sk","skr","sl","sm","smn","sn","so","sq","sr","srn","ss","st","stq","su","sv","sw","szl","ta","tay","tcy","tdd","te","tet","tg","th","ti","tk","tl","tly","tn","to","tpi","tr","trv","ts","tt","tum","tw" ,"ty","tyv","udm","ur","uz","ve","vec","vep","vi","vls","vo","vro","wa","war","wo","wuu","xal","xh","xmf","yi","yo","yue","za","zgh","zh","zu"],"isLanguageSearcherCXEntrypointEnabled":true,"mintEntrypointLanguages":["ace","ast","azb","bcl","bjn","bh","crh","ff","fon","ig","is","ki","ks","lmo","min","sat","ss","tn","vec"],"wgWikibaseItemId":"Q373177","wgCheckUserClientHintsHeadersJsApi":["brands","architecture","bitness","fullVersionList","mobile","model","platform","platformVersion"],"GEHomepageSuggestedEditsEnableTopics":true,"wgGETopicsMatchModeEnabled":false,"wgGEStructuredTaskRejectionReasonTextInputEnabled":false,"wgGELevelingUpEnabledForUser":false,"wgMinervaPermissions":{"watchable":true,"watch":false},"wgMinervaFeatures":{"beta":false,"donate":true,"mobileOptionsLink":true,"categories":false,"pageIssues":true,"talkAtTop":true,"historyInPageActions":false,"overflowSubmenu":false,"tabsOnSpecials":true,"personalMenu":false,"mainMenuExpanded":false,"echo":true,"nightMode":true}, "wgMinervaDownloadNamespaces":[0]};RLSTATE={"ext.globalCssJs.user.styles":"ready","site.styles":"ready","user.styles":"ready","ext.globalCssJs.user":"ready","user":"ready","user.options":"loading","ext.cite.styles":"ready","skins.minerva.styles":"ready","skins.minerva.content.styles.images":"ready","mediawiki.hlist":"ready","skins.minerva.codex.styles":"ready","skins.minerva.icons":"ready","skins.minerva.amc.styles":"ready","ext.wikimediamessages.styles":"ready","mobile.init.styles":"ready","ext.relatedArticles.styles":"ready","wikibase.client.init":"ready","ext.wikimediaBadges":"ready"};RLPAGEMODULES=["ext.cite.ux-enhancements","mediawiki.page.media","ext.scribunto.logs","site","mediawiki.page.ready","skins.minerva.scripts","ext.centralNotice.geoIP","ext.centralNotice.startUp","ext.gadget.switcher","ext.urlShortener.toolbar","ext.centralauth.centralautologin","ext.popups","mobile.init","ext.echo.centralauth","ext.relatedArticles.readMore.bootstrap","ext.eventLogging", "ext.wikimediaEvents","ext.navigationTiming","ext.cx.eventlogging.campaigns","ext.cx.entrypoints.mffrequentlanguages","ext.cx.entrypoints.languagesearcher.init","mw.externalguidance.init","ext.checkUser.clientHints","ext.growthExperiments.SuggestedEditSession","wikibase.sidebar.tracking"];</script> <script>(RLQ=window.RLQ||[]).push(function(){mw.loader.impl(function(){return["user.options@12s5i",function($,jQuery,require,module){mw.user.tokens.set({"patrolToken":"+\\","watchToken":"+\\","csrfToken":"+\\"}); }];});});</script> <link rel="stylesheet" href="/w/load.php?lang=en&modules=ext.cite.styles%7Cext.relatedArticles.styles%7Cext.wikimediaBadges%7Cext.wikimediamessages.styles%7Cmediawiki.hlist%7Cmobile.init.styles%7Cskins.minerva.amc.styles%7Cskins.minerva.codex.styles%7Cskins.minerva.content.styles.images%7Cskins.minerva.icons%2Cstyles%7Cwikibase.client.init&only=styles&skin=minerva"> <script async src="/w/load.php?lang=en&modules=startup&only=scripts&raw=1&skin=minerva"></script> <meta name="ResourceLoaderDynamicStyles" content=""> <link rel="stylesheet" href="/w/load.php?lang=en&modules=site.styles&only=styles&skin=minerva"> <meta name="generator" content="MediaWiki 1.44.0-wmf.4"> <meta name="referrer" content="origin"> <meta name="referrer" content="origin-when-cross-origin"> <meta name="robots" content="max-image-preview:standard"> <meta name="format-detection" content="telephone=no"> <meta name="theme-color" content="#eaecf0"> <meta property="og:image" content="https://upload.wikimedia.org/wikipedia/commons/thumb/4/40/CPI_1914-2022.webp/1200px-CPI_1914-2022.webp.png"> <meta property="og:image:width" content="1200"> <meta property="og:image:height" content="576"> <meta property="og:image" content="https://upload.wikimedia.org/wikipedia/commons/thumb/4/40/CPI_1914-2022.webp/800px-CPI_1914-2022.webp.png"> <meta property="og:image:width" content="800"> <meta property="og:image:height" content="384"> <meta property="og:image" content="https://upload.wikimedia.org/wikipedia/commons/thumb/4/40/CPI_1914-2022.webp/640px-CPI_1914-2022.webp.png"> <meta property="og:image:width" content="640"> <meta property="og:image:height" content="307"> <meta name="viewport" content="width=device-width, initial-scale=1.0, user-scalable=yes, minimum-scale=0.25, maximum-scale=5.0"> <meta property="og:title" content="Monetarism - Wikipedia"> <meta property="og:type" content="website"> <link rel="preconnect" href="//upload.wikimedia.org"> <link rel="manifest" href="/w/api.php?action=webapp-manifest"> <link rel="alternate" type="application/x-wiki" title="Edit this page" href="/w/index.php?title=Monetarism&action=edit"> <link rel="apple-touch-icon" href="/static/apple-touch/wikipedia.png"> <link rel="icon" href="/static/favicon/wikipedia.ico"> <link rel="search" type="application/opensearchdescription+xml" href="/w/rest.php/v1/search" title="Wikipedia (en)"> <link rel="EditURI" type="application/rsd+xml" href="//en.wikipedia.org/w/api.php?action=rsd"> <link rel="canonical" href="https://en.wikipedia.org/wiki/Monetarism"> <link rel="license" href="https://creativecommons.org/licenses/by-sa/4.0/deed.en"> <link rel="dns-prefetch" href="//meta.wikimedia.org"> <link rel="dns-prefetch" href="//login.wikimedia.org"> <meta http-equiv="X-Translated-By" content="Google"> <meta http-equiv="X-Translated-To" content="en"> <script type="text/javascript" src="https://www.gstatic.com/_/translate_http/_/js/k=translate_http.tr.en_GB.1hbgkFx4Qn8.O/am=DgY/d=1/rs=AN8SPfqlmAPxwfG457BPbRXwNq39oSMGHg/m=corsproxy" data-sourceurl="https://en.m.wikipedia.org/wiki/Monetarism"></script> <link href="https://fonts.googleapis.com/css2?family=Material+Symbols+Outlined:opsz,wght,FILL,GRAD@20..48,100..700,0..1,-50..200" rel="stylesheet"> <script type="text/javascript" src="https://www.gstatic.com/_/translate_http/_/js/k=translate_http.tr.en_GB.1hbgkFx4Qn8.O/am=DgY/d=1/exm=corsproxy/ed=1/rs=AN8SPfqlmAPxwfG457BPbRXwNq39oSMGHg/m=phishing_protection" data-phishing-protection-enabled="false" data-forms-warning-enabled="true" data-source-url="https://en.m.wikipedia.org/wiki/Monetarism"></script> <meta name="robots" content="none"> </head> <body class="mediawiki ltr sitedir-ltr mw-hide-empty-elt ns-0 ns-subject mw-editable page-Monetarism rootpage-Monetarism stable issues-group-B skin-minerva action-view skin--responsive mw-mf-amc-disabled mw-mf"> <script type="text/javascript" src="https://www.gstatic.com/_/translate_http/_/js/k=translate_http.tr.en_GB.1hbgkFx4Qn8.O/am=DgY/d=1/exm=corsproxy,phishing_protection/ed=1/rs=AN8SPfqlmAPxwfG457BPbRXwNq39oSMGHg/m=navigationui" data-environment="prod" data-proxy-url="https://en-m-wikipedia-org.translate.goog" data-proxy-full-url="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" data-source-url="https://en.m.wikipedia.org/wiki/Monetarism" data-source-language="auto" data-target-language="en" data-display-language="en-GB" data-detected-source-language="en" data-is-source-untranslated="false" data-source-untranslated-url="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://en.m.wikipedia.org/wiki/Monetarism&anno=2" data-client="tr"></script> <div id="mw-mf-viewport"> <div id="mw-mf-page-center"><a class="mw-mf-page-center__mask" href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#"></a> <header class="header-container header-chrome"> <div class="minerva-header"> <nav class="navigation-drawer toggle-list view-border-box"><input type="checkbox" id="main-menu-input" class="toggle-list__checkbox" role="button" aria-haspopup="true" aria-expanded="false" aria-labelledby="mw-mf-main-menu-button"> <label role="button" for="main-menu-input" id="mw-mf-main-menu-button" aria-hidden="true" data-event-name="ui.mainmenu" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet toggle-list__toggle"> <span class="minerva-icon minerva-icon--menu"></span> <span></span> </label> <div id="mw-mf-page-left" class="menu view-border-box"> <ul id="p-navigation" class="toggle-list__list"> <li class="toggle-list-item "><a class="toggle-list-item__anchor menu__item--home" href="https://en-m-wikipedia-org.translate.goog/wiki/Main_Page?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" data-mw="interface"> <span class="minerva-icon minerva-icon--home"></span> <span class="toggle-list-item__label">Home</span> </a></li> <li class="toggle-list-item "><a class="toggle-list-item__anchor menu__item--random" href="https://en-m-wikipedia-org.translate.goog/wiki/Special:Random?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" data-mw="interface"> <span class="minerva-icon minerva-icon--die"></span> <span class="toggle-list-item__label">Random</span> </a></li> <li class="toggle-list-item skin-minerva-list-item-jsonly"><a class="toggle-list-item__anchor menu__item--nearby" href="https://en-m-wikipedia-org.translate.goog/wiki/Special:Nearby?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" data-event-name="menu.nearby" data-mw="interface"> <span class="minerva-icon minerva-icon--mapPin"></span> <span class="toggle-list-item__label">Nearby</span> </a></li> </ul> <ul id="p-personal" class="toggle-list__list"> <li class="toggle-list-item "><a class="toggle-list-item__anchor menu__item--login" href="https://en-m-wikipedia-org.translate.goog/w/index.php?title=Special:UserLogin&returnto=Monetarism&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" data-event-name="menu.login" data-mw="interface"> <span class="minerva-icon minerva-icon--logIn"></span> <span class="toggle-list-item__label">Log in</span> </a></li> </ul> <ul id="pt-preferences" class="toggle-list__list"> <li class="toggle-list-item skin-minerva-list-item-jsonly"><a class="toggle-list-item__anchor menu__item--settings" href="https://en-m-wikipedia-org.translate.goog/w/index.php?title=Special:MobileOptions&returnto=Monetarism&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" data-event-name="menu.settings" data-mw="interface"> <span class="minerva-icon minerva-icon--settings"></span> <span class="toggle-list-item__label">Settings</span> </a></li> </ul> <ul id="p-donation" class="toggle-list__list"> <li class="toggle-list-item "><a class="toggle-list-item__anchor menu__item--donate" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://donate.wikimedia.org/wiki/Special:FundraiserRedirector?utm_source%3Ddonate%26utm_medium%3Dsidebar%26utm_campaign%3DC13_en.wikipedia.org%26uselang%3Den%26utm_key%3Dminerva" data-event-name="menu.donate" data-mw="interface"> <span class="minerva-icon minerva-icon--heart"></span> <span class="toggle-list-item__label">Donate</span> </a></li> </ul> <ul class="hlist"> <li class="toggle-list-item "><a class="toggle-list-item__anchor menu__item--about" href="https://en-m-wikipedia-org.translate.goog/wiki/Wikipedia:About?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" data-mw="interface"> <span class="toggle-list-item__label">About Wikipedia</span> </a></li> <li class="toggle-list-item "><a class="toggle-list-item__anchor menu__item--disclaimers" href="https://en-m-wikipedia-org.translate.goog/wiki/Wikipedia:General_disclaimer?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" data-mw="interface"> <span class="toggle-list-item__label">Disclaimers</span> </a></li> </ul> </div><label class="main-menu-mask" for="main-menu-input"></label> </nav> <div class="branding-box"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Main_Page?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB"> <span><img src="/static/images/mobile/copyright/wikipedia-wordmark-en.svg" alt="Wikipedia" width="120" height="18" style="width: 7.5em; height: 1.125em;"> </span> </a> </div> <form action="/w/index.php" method="get" class="minerva-search-form"> <div class="search-box"><input type="hidden" name="title" value="Special:Search"> <input class="search skin-minerva-search-trigger" id="searchInput" type="search" name="search" placeholder="Search Wikipedia" aria-label="Search Wikipedia" autocapitalize="sentences" title="Search Wikipedia [f]" accesskey="f"> <span class="search-box-icon-overlay"><span class="minerva-icon minerva-icon--search"></span> </span> </div><button id="searchIcon" class="cdx-button cdx-button--size-large cdx-button--icon-only cdx-button--weight-quiet skin-minerva-search-trigger"> <span class="minerva-icon minerva-icon--search"></span> <span>Search</span> </button> </form> <nav class="minerva-user-navigation" aria-label="User navigation"> </nav> </div> </header> <main id="content" class="mw-body"> <div class="banner-container"> <div id="siteNotice"></div> </div> <div class="pre-content heading-holder"> <div class="page-heading"> <h1 id="firstHeading" class="firstHeading mw-first-heading"><span class="mw-page-title-main">Monetarism</span></h1> <div class="tagline"></div> </div> <ul id="p-associated-pages" class="minerva__tab-container"> <li class="minerva__tab selected"><a class="minerva__tab-text" href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" rel="" data-event-name="tabs.subject">Article</a></li> <li class="minerva__tab "><a class="minerva__tab-text" href="https://en-m-wikipedia-org.translate.goog/wiki/Talk:Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" rel="discussion" data-event-name="tabs.talk">Talk</a></li> </ul> <nav class="page-actions-menu"> <ul id="p-views" class="page-actions-menu__list"> <li id="language-selector" class="page-actions-menu__list-item"><a role="button" href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#p-lang" data-mw="interface" data-event-name="menu.languages" title="Language" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet language-selector"> <span class="minerva-icon minerva-icon--language"></span> <span>Language</span> </a></li> <li id="page-actions-watch" class="page-actions-menu__list-item"><a role="button" id="ca-watch" href="https://en-m-wikipedia-org.translate.goog/w/index.php?title=Special:UserLogin&returnto=Monetarism&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" data-event-name="menu.watch" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet menu__item--page-actions-watch"> <span class="minerva-icon minerva-icon--star"></span> <span>Watch</span> </a></li> <li id="page-actions-edit" class="page-actions-menu__list-item"><a role="button" id="ca-edit" href="https://en-m-wikipedia-org.translate.goog/w/index.php?title=Monetarism&action=edit&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" data-event-name="menu.edit" data-mw="interface" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet edit-page menu__item--page-actions-edit"> <span class="minerva-icon minerva-icon--edit"></span> <span>Edit</span> </a></li> </ul> </nav> <div id="mw-content-subtitle"></div> </div> <div id="bodyContent" class="content"> <div id="mw-content-text" class="mw-body-content"> <script>function mfTempOpenSection(id){var block=document.getElementById("mf-section-"+id);block.className+=" open-block";block.previousSibling.className+=" open-block";}</script> <div class="mw-content-ltr mw-parser-output" lang="en" dir="ltr"> <section class="mf-section-0" id="mf-section-0"> <p class="mw-empty-elt"></p> <style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist li{margin:0;display:inline}.mw-parser-output .hlist.inline,.mw-parser-output .hlist.inline dl,.mw-parser-output .hlist.inline ol,.mw-parser-output .hlist.inline ul,.mw-parser-output .hlist dl dl,.mw-parser-output .hlist dl ol,.mw-parser-output .hlist dl ul,.mw-parser-output .hlist ol dl,.mw-parser-output .hlist ol ol,.mw-parser-output .hlist ol ul,.mw-parser-output .hlist ul dl,.mw-parser-output .hlist ul ol,.mw-parser-output .hlist ul ul{display:inline}.mw-parser-output .hlist .mw-empty-li{display:none}.mw-parser-output .hlist dt::after{content:": "}.mw-parser-output .hlist dd::after,.mw-parser-output .hlist li::after{content:" · ";font-weight:bold}.mw-parser-output .hlist dd:last-child::after,.mw-parser-output .hlist dt:last-child::after,.mw-parser-output .hlist li:last-child::after{content:none}.mw-parser-output .hlist dd dd:first-child::before,.mw-parser-output .hlist dd dt:first-child::before,.mw-parser-output .hlist dd li:first-child::before,.mw-parser-output .hlist dt dd:first-child::before,.mw-parser-output .hlist dt dt:first-child::before,.mw-parser-output .hlist dt li:first-child::before,.mw-parser-output .hlist li dd:first-child::before,.mw-parser-output .hlist li dt:first-child::before,.mw-parser-output .hlist li li:first-child::before{content:" (";font-weight:normal}.mw-parser-output .hlist dd dd:last-child::after,.mw-parser-output .hlist dd dt:last-child::after,.mw-parser-output .hlist dd li:last-child::after,.mw-parser-output .hlist dt dd:last-child::after,.mw-parser-output .hlist dt dt:last-child::after,.mw-parser-output .hlist dt li:last-child::after,.mw-parser-output .hlist li dd:last-child::after,.mw-parser-output .hlist li dt:last-child::after,.mw-parser-output .hlist li li:last-child::after{content:")";font-weight:normal}.mw-parser-output .hlist ol{counter-reset:listitem}.mw-parser-output .hlist ol>li{counter-increment:listitem}.mw-parser-output .hlist ol>li::before{content:" "counter(listitem)"\a0 "}.mw-parser-output .hlist dd ol>li:first-child::before,.mw-parser-output .hlist dt ol>li:first-child::before,.mw-parser-output .hlist li ol>li:first-child::before{content:" ("counter(listitem)"\a0 "}</style> <style data-mw-deduplicate="TemplateStyles:r1126788409">.mw-parser-output .plainlist ol,.mw-parser-output .plainlist ul{line-height:inherit;list-style:none;margin:0;padding:0}.mw-parser-output .plainlist ol li,.mw-parser-output .plainlist ul li{margin-bottom:0}</style> <style data-mw-deduplicate="TemplateStyles:r1246091330">.mw-parser-output .sidebar{width:22em;float:right;clear:right;margin:0.5em 0 1em 1em;background:var(--background-color-neutral-subtle,#f8f9fa);border:1px solid var(--border-color-base,#a2a9b1);padding:0.2em;text-align:center;line-height:1.4em;font-size:88%;border-collapse:collapse;display:table}body.skin-minerva .mw-parser-output .sidebar{display:table!important;float:right!important;margin:0.5em 0 1em 1em!important}.mw-parser-output .sidebar-subgroup{width:100%;margin:0;border-spacing:0}.mw-parser-output .sidebar-left{float:left;clear:left;margin:0.5em 1em 1em 0}.mw-parser-output .sidebar-none{float:none;clear:both;margin:0.5em 1em 1em 0}.mw-parser-output .sidebar-outer-title{padding:0 0.4em 0.2em;font-size:125%;line-height:1.2em;font-weight:bold}.mw-parser-output .sidebar-top-image{padding:0.4em}.mw-parser-output .sidebar-top-caption,.mw-parser-output .sidebar-pretitle-with-top-image,.mw-parser-output .sidebar-caption{padding:0.2em 0.4em 0;line-height:1.2em}.mw-parser-output .sidebar-pretitle{padding:0.4em 0.4em 0;line-height:1.2em}.mw-parser-output .sidebar-title,.mw-parser-output .sidebar-title-with-pretitle{padding:0.2em 0.8em;font-size:145%;line-height:1.2em}.mw-parser-output .sidebar-title-with-pretitle{padding:0.1em 0.4em}.mw-parser-output .sidebar-image{padding:0.2em 0.4em 0.4em}.mw-parser-output .sidebar-heading{padding:0.1em 0.4em}.mw-parser-output .sidebar-content{padding:0 0.5em 0.4em}.mw-parser-output .sidebar-content-with-subgroup{padding:0.1em 0.4em 0.2em}.mw-parser-output .sidebar-above,.mw-parser-output .sidebar-below{padding:0.3em 0.8em;font-weight:bold}.mw-parser-output .sidebar-collapse .sidebar-above,.mw-parser-output .sidebar-collapse .sidebar-below{border-top:1px solid #aaa;border-bottom:1px solid #aaa}.mw-parser-output .sidebar-navbar{text-align:right;font-size:115%;padding:0 0.4em 0.4em}.mw-parser-output .sidebar-list-title{padding:0 0.4em;text-align:left;font-weight:bold;line-height:1.6em;font-size:105%}.mw-parser-output .sidebar-list-title-c{padding:0 0.4em;text-align:center;margin:0 3.3em}@media(max-width:640px){body.mediawiki .mw-parser-output .sidebar{width:100%!important;clear:both;float:none!important;margin-left:0!important;margin-right:0!important}}body.skin--responsive .mw-parser-output .sidebar a>img{max-width:none!important}@media screen{html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media print{body.ns-0 .mw-parser-output .sidebar{display:none!important}}</style> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1246091330"> <p><b>Monetarism</b> is a <a href="https://en-m-wikipedia-org.translate.goog/wiki/School_of_thought?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="School of thought">school of thought</a> in <a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetary_economics?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Monetary economics">monetary economics</a> that emphasizes the role of policy-makers in controlling the amount of <a href="https://en-m-wikipedia-org.translate.goog/wiki/Money_in_circulation?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="Money in circulation">money in circulation</a>. It gained prominence in the 1970s but was mostly abandoned as a direct guidance to <a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetary_policy?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Monetary policy">monetary policy</a> during the following decade because of the rise of inflation targeting through movements of the official interest rate.</p> <figure typeof="mw:File/Thumb"> <a href="https://en-m-wikipedia-org.translate.goog/wiki/File:CPI_1914-2022.webp?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-file-description"><img alt="CPI 1914-2022" src="//upload.wikimedia.org/wikipedia/commons/thumb/4/40/CPI_1914-2022.webp/261px-CPI_1914-2022.webp.png" decoding="async" width="261" height="125" class="mw-file-element" srcset="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://upload.wikimedia.org/wikipedia/commons/thumb/4/40/CPI_1914-2022.webp/392px-CPI_1914-2022.webp.png 1.5x,https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://upload.wikimedia.org/wikipedia/commons/thumb/4/40/CPI_1914-2022.webp/522px-CPI_1914-2022.webp.png 2x" data-file-width="3962" data-file-height="1902"></a> <figcaption> <style data-mw-deduplicate="TemplateStyles:r981673959">.mw-parser-output .legend{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .legend-color{display:inline-block;min-width:1.25em;height:1.25em;line-height:1.25;margin:1px 0;text-align:center;border:1px solid black;background-color:transparent;color:black}.mw-parser-output .legend-text{}</style> <div class="legend"> <span class="legend-color mw-no-invert" style="background-color:#0076BA ; color:white;"> </span> <a href="https://en-m-wikipedia-org.translate.goog/wiki/Inflation?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Inflation">Inflation</a> </div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"> <div class="legend"> <span class="legend-color mw-no-invert" style="background-color:#EE220C ; color:black;"> </span> <a href="https://en-m-wikipedia-org.translate.goog/wiki/Deflation?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Deflation">Deflation</a> </div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"> <div class="legend"> <span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:#1DB100 solid 3px;"> </span> <a href="https://en-m-wikipedia-org.translate.goog/wiki/Money_supply?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Money supply">M2 money supply</a> increases Year/Year </div> </figcaption> </figure> <p>The monetarist theory states that variations in the <a href="https://en-m-wikipedia-org.translate.goog/wiki/Money_supply?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Money supply">money supply</a> have major influences on <a href="https://en-m-wikipedia-org.translate.goog/wiki/Measures_of_national_income_and_output?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Measures of national income and output">national output</a> in the short run and on <a href="https://en-m-wikipedia-org.translate.goog/wiki/Price_level?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Price level">price levels</a> over longer periods. Monetarists assert that the objectives of <a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetary_policy?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Monetary policy">monetary policy</a> are best met by targeting the growth rate of the <a href="https://en-m-wikipedia-org.translate.goog/wiki/Money_supply?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Money supply">money supply</a> rather than by engaging in <a href="https://en-m-wikipedia-org.translate.goog/wiki/Discretionary_policy?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Discretionary policy">discretionary monetary policy</a>.<sup id="cite_ref-Cagan_1-0" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-Cagan-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> Monetarism is commonly associated with <a href="https://en-m-wikipedia-org.translate.goog/wiki/Neoliberalism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Neoliberalism">neoliberalism</a>.<sup id="cite_ref-harvey1_2-0" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-harvey1-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup></p> <p>Monetarism is mainly associated with the work of <a href="https://en-m-wikipedia-org.translate.goog/wiki/Milton_Friedman?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Milton Friedman">Milton Friedman</a>, who was an influential opponent of <a href="https://en-m-wikipedia-org.translate.goog/wiki/Keynesian_economics?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Keynesian economics">Keynesian economics</a>, criticising Keynes's theory of fighting economic downturns using <a href="https://en-m-wikipedia-org.translate.goog/wiki/Fiscal_policy?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Fiscal policy">fiscal policy</a> (e.g. <a href="https://en-m-wikipedia-org.translate.goog/wiki/Government_spending?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Government spending">government spending</a>). Friedman and <a href="https://en-m-wikipedia-org.translate.goog/wiki/Anna_Schwartz?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Anna Schwartz">Anna Schwartz</a> wrote an influential book, <i><a href="https://en-m-wikipedia-org.translate.goog/wiki/A_Monetary_History_of_the_United_States,_1867%E2%80%931960?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="A Monetary History of the United States, 1867–1960">A Monetary History of the United States, 1867–1960</a></i>, and argued that <a href="https://en-m-wikipedia-org.translate.goog/wiki/Inflation?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Inflation">inflation</a> is "always and everywhere a monetary phenomenon".<sup id="cite_ref-3" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup></p> <p>Although opposed to the existence of the <a href="https://en-m-wikipedia-org.translate.goog/wiki/Federal_Reserve_System?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="Federal Reserve System">Federal Reserve</a>,<sup id="cite_ref-reason_4-0" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-reason-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> Friedman advocated, given its existence, a <a href="https://en-m-wikipedia-org.translate.goog/wiki/Central_bank?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Central bank">central bank</a> policy aimed at keeping the growth of the money supply at a rate commensurate with the growth in productivity and <a href="https://en-m-wikipedia-org.translate.goog/wiki/Aggregate_demand?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Aggregate demand">demand for goods</a>. Money growth targeting was mostly abandoned by the central banks who tried it, however. Contrary to monetarist thinking, the relation between money growth and inflation proved to be far from tight. Instead, starting in the early 1990s, most major central banks turned to direct <a href="https://en-m-wikipedia-org.translate.goog/wiki/Inflation_targeting?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Inflation targeting">inflation targeting</a>, relying on steering short-run <a href="https://en-m-wikipedia-org.translate.goog/wiki/Interest_rate?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Interest rate">interest rates</a> as their main policy instrument.<sup id="cite_ref-Blanchard_5-0" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-Blanchard-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 483–485">: 483–485 </span></sup> Afterwards, monetarism was subsumed into the <a href="https://en-m-wikipedia-org.translate.goog/wiki/New_neoclassical_synthesis?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="New neoclassical synthesis">new neoclassical synthesis</a> which appeared in macroeconomics around 2000.</p> <div id="toc" class="toc" role="navigation" aria-labelledby="mw-toc-heading"> <input type="checkbox" role="button" id="toctogglecheckbox" class="toctogglecheckbox" style="display:none"> <div class="toctitle" lang="en" dir="ltr"> <h2 id="mw-toc-heading">Contents</h2><span class="toctogglespan"><label class="toctogglelabel" for="toctogglecheckbox"></label></span> </div> <ul> <li class="toclevel-1 tocsection-1"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#Description"><span class="tocnumber">1</span> <span class="toctext">Description</span></a> <ul> <li class="toclevel-2 tocsection-2"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#Monetary_history_of_the_United_States"><span class="tocnumber">1.1</span> <span class="toctext">Monetary history of the United States</span></a></li> <li class="toclevel-2 tocsection-3"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#Fixed_monetary_rule"><span class="tocnumber">1.2</span> <span class="toctext">Fixed monetary rule</span></a></li> <li class="toclevel-2 tocsection-4"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#Opposition_to_the_gold_standard"><span class="tocnumber">1.3</span> <span class="toctext">Opposition to the gold standard</span></a></li> </ul></li> <li class="toclevel-1 tocsection-5"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#Rise"><span class="tocnumber">2</span> <span class="toctext">Rise</span></a> <ul> <li class="toclevel-2 tocsection-6"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#Monetarism_in_the_US_and_the_UK"><span class="tocnumber">2.1</span> <span class="toctext">Monetarism in the US and the UK</span></a></li> </ul></li> <li class="toclevel-1 tocsection-7"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#Decline"><span class="tocnumber">3</span> <span class="toctext">Decline</span></a></li> <li class="toclevel-1 tocsection-8"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#Legacy"><span class="tocnumber">4</span> <span class="toctext">Legacy</span></a></li> <li class="toclevel-1 tocsection-9"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#Notable_proponents"><span class="tocnumber">5</span> <span class="toctext">Notable proponents</span></a></li> <li class="toclevel-1 tocsection-10"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#See_also"><span class="tocnumber">6</span> <span class="toctext">See also</span></a></li> <li class="toclevel-1 tocsection-11"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#References"><span class="tocnumber">7</span> <span class="toctext">References</span></a></li> <li class="toclevel-1 tocsection-12"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#Further_reading"><span class="tocnumber">8</span> <span class="toctext">Further reading</span></a></li> <li class="toclevel-1 tocsection-13"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#External_links"><span class="tocnumber">9</span> <span class="toctext">External links</span></a></li> </ul> </div> </section> <div class="mw-heading mw-heading2 section-heading" onclick="mfTempOpenSection(1)"> <span class="indicator mf-icon mf-icon-expand mf-icon--small"></span> <h2 id="Description">Description</h2><span class="mw-editsection"> <a role="button" href="https://en-m-wikipedia-org.translate.goog/w/index.php?title=Monetarism&action=edit&section=1&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Edit section: Description" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> <span class="minerva-icon minerva-icon--edit"></span> <span>edit</span> </a> </span> </div> <section class="mf-section-1 collapsible-block" id="mf-section-1"> <p>Monetarism is an economic theory that focuses on the <a href="https://en-m-wikipedia-org.translate.goog/wiki/Macroeconomics?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Macroeconomics">macroeconomic</a> effects of the <a href="https://en-m-wikipedia-org.translate.goog/wiki/Supply_of_money?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="Supply of money">supply of money</a> and <a href="https://en-m-wikipedia-org.translate.goog/wiki/Central_banking?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="Central banking">central banking</a>. Formulated by <a href="https://en-m-wikipedia-org.translate.goog/wiki/Milton_Friedman?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Milton Friedman">Milton Friedman</a>, it argues that excessive expansion of the money supply is inherently <a href="https://en-m-wikipedia-org.translate.goog/wiki/Inflation?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Inflation">inflationary</a>, and that monetary authorities should focus solely on maintaining <a href="https://en-m-wikipedia-org.translate.goog/wiki/Price_stability?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Price stability">price stability</a>.</p> <p>Monetarist theory draws its roots from the <a href="https://en-m-wikipedia-org.translate.goog/wiki/Quantity_theory_of_money?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Quantity theory of money">quantity theory of money</a>, a centuries-old economic theory which had been put forward by various economists, among them <a href="https://en-m-wikipedia-org.translate.goog/wiki/Irving_Fisher?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Irving Fisher">Irving Fisher</a> and <a href="https://en-m-wikipedia-org.translate.goog/wiki/Alfred_Marshall?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Alfred Marshall">Alfred Marshall</a>, before Friedman restated it in 1956.<sup id="cite_ref-Dimand_6-0" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-Dimand-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-7" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup></p> <div class="mw-heading mw-heading3"> <h3 id="Monetary_history_of_the_United_States">Monetary history of the United States</h3><span class="mw-editsection"> <a role="button" href="https://en-m-wikipedia-org.translate.goog/w/index.php?title=Monetarism&action=edit&section=2&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Edit section: Monetary history of the United States" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> <span class="minerva-icon minerva-icon--edit"></span> <span>edit</span> </a> </span> </div> <figure class="mw-halign-right" typeof="mw:File/Thumb"> <a href="https://en-m-wikipedia-org.translate.goog/wiki/File:Money_supply_during_the_great_depression_era.png?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-file-description"> <noscript> <img src="//upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Money_supply_during_the_great_depression_era.png/400px-Money_supply_during_the_great_depression_era.png" decoding="async" width="400" height="194" class="mw-file-element" data-file-width="3036" data-file-height="1473"> </noscript><span class="lazy-image-placeholder" style="width: 400px;height: 194px;" data-src="//upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Money_supply_during_the_great_depression_era.png/400px-Money_supply_during_the_great_depression_era.png" data-width="400" data-height="194" data-srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Money_supply_during_the_great_depression_era.png/600px-Money_supply_during_the_great_depression_era.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Money_supply_during_the_great_depression_era.png/800px-Money_supply_during_the_great_depression_era.png 2x" data-class="mw-file-element"> </span></a> <figcaption> Money supply decreased significantly between <a href="https://en-m-wikipedia-org.translate.goog/wiki/Black_Tuesday?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="Black Tuesday">Black Tuesday</a> and the <a href="https://en-m-wikipedia-org.translate.goog/wiki/Emergency_Banking_Act?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="Emergency Banking Act">Bank Holiday in March 1933</a> in the wake of massive <a href="https://en-m-wikipedia-org.translate.goog/wiki/Bank_runs?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="Bank runs">bank runs</a> across the United States. </figcaption> </figure> <p>Monetarists argued that central banks sometimes caused major unexpected fluctuations in the money supply. Friedman asserted that actively trying to stabilize demand through monetary policy changes can have negative unintended consequences.<sup id="cite_ref-Blanchard_5-1" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-Blanchard-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 511–512">: 511–512 </span></sup> In part he based this view on the historical analysis of monetary policy, <i><a href="https://en-m-wikipedia-org.translate.goog/wiki/A_Monetary_History_of_the_United_States?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="A Monetary History of the United States">A Monetary History of the United States, 1867–1960</a></i>, which he coauthored with <a href="https://en-m-wikipedia-org.translate.goog/wiki/Anna_Schwartz?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Anna Schwartz">Anna Schwartz</a> in 1963. The book attributed inflation to excess money supply generated by a central bank. It attributed deflationary spirals to the reverse effect of a failure of a central bank to support the <a href="https://en-m-wikipedia-org.translate.goog/wiki/Money_supply?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Money supply">money supply</a> during a <a href="https://en-m-wikipedia-org.translate.goog/wiki/Market_liquidity?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Market liquidity">liquidity</a> crunch.<sup id="cite_ref-8" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> In particular, the authors argued that the <a href="https://en-m-wikipedia-org.translate.goog/wiki/Great_Depression?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Great Depression">Great Depression</a> of the 1930s was caused by a massive contraction of the money supply (they deemed it "the <a href="https://en-m-wikipedia-org.translate.goog/wiki/Great_Contraction?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Great Contraction">Great Contraction</a>"<sup id="cite_ref-FriedmanSchwartz_9-0" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-FriedmanSchwartz-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup>), and not by the lack of investment that Keynes had argued. They also maintained that post-war inflation was caused by an over-expansion of the money supply. They made famous the assertion of monetarism that "inflation is always and everywhere a monetary phenomenon."</p> <div class="mw-heading mw-heading3"> <h3 id="Fixed_monetary_rule">Fixed monetary rule</h3><span class="mw-editsection"> <a role="button" href="https://en-m-wikipedia-org.translate.goog/w/index.php?title=Monetarism&action=edit&section=3&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Edit section: Fixed monetary rule" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> <span class="minerva-icon minerva-icon--edit"></span> <span>edit</span> </a> </span> </div> <p>Friedman proposed a fixed <i>monetary rule</i>, called <a href="https://en-m-wikipedia-org.translate.goog/wiki/Friedman%27s_k-percent_rule?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Friedman's k-percent rule">Friedman's k-percent rule</a>, where the money supply would be automatically increased by a fixed percentage per year. The rate should equal the growth rate of real <a href="https://en-m-wikipedia-org.translate.goog/wiki/GDP?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="GDP">GDP</a>, leaving the price level unchanged. For instance, if the economy is expected to grow at 2 percent in a given year, the Fed should allow the money supply to increase by 2 percent. Because <a href="https://en-m-wikipedia-org.translate.goog/wiki/Discretionary_policy?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Discretionary policy">discretionary monetary policy</a> would be as likely to destabilise as to stabilise the economy, Friedman advocated that the Fed be bound to fixed rules in conducting its policy.<sup id="cite_ref-IMF_10-0" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-IMF-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup></p> <div class="mw-heading mw-heading3"> <h3 id="Opposition_to_the_gold_standard">Opposition to the gold standard</h3><span class="mw-editsection"> <a role="button" href="https://en-m-wikipedia-org.translate.goog/w/index.php?title=Monetarism&action=edit&section=4&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Edit section: Opposition to the gold standard" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> <span class="minerva-icon minerva-icon--edit"></span> <span>edit</span> </a> </span> </div> <p>Most monetarists oppose the <a href="https://en-m-wikipedia-org.translate.goog/wiki/Gold_standard?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Gold standard">gold standard</a>. Friedman viewed a pure gold standard as impractical. For example, whereas one of the benefits of the gold standard is that the intrinsic limitations to the growth of the money supply by the use of gold would prevent inflation, if the growth of population or increase in trade outpaces the money supply, there would be no way to counteract deflation and reduced liquidity (and any attendant recession) except for the mining of more gold. But he also admitted that if a government was willing to surrender control over its monetary policy and not to interfere with economic activities, a gold-based economy would be possible.<sup id="cite_ref-11" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup></p> </section> <div class="mw-heading mw-heading2 section-heading" onclick="mfTempOpenSection(2)"> <span class="indicator mf-icon mf-icon-expand mf-icon--small"></span> <h2 id="Rise">Rise</h2><span class="mw-editsection"> <a role="button" href="https://en-m-wikipedia-org.translate.goog/w/index.php?title=Monetarism&action=edit&section=5&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Edit section: Rise" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> <span class="minerva-icon minerva-icon--edit"></span> <span>edit</span> </a> </span> </div> <section class="mf-section-2 collapsible-block" id="mf-section-2"> <p><a href="https://en-m-wikipedia-org.translate.goog/wiki/Clark_Warburton?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Clark Warburton">Clark Warburton</a> is credited with making the first solid empirical case for the monetarist interpretation of <a href="https://en-m-wikipedia-org.translate.goog/wiki/Business_fluctuation?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="Business fluctuation">business fluctuations</a> in a series of papers from 1945.<sup id="cite_ref-Cagan_1-1" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-Cagan-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup>p. 493</sup> Within <a href="https://en-m-wikipedia-org.translate.goog/wiki/Mainstream_economics?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Mainstream economics">mainstream economics</a>, the rise of monetarism started with <a href="https://en-m-wikipedia-org.translate.goog/wiki/Milton_Friedman?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Milton Friedman">Milton Friedman</a>'s 1956 restatement of the <a href="https://en-m-wikipedia-org.translate.goog/wiki/Quantity_theory_of_money?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Quantity theory of money">quantity theory of money</a>. Friedman argued that the <a href="https://en-m-wikipedia-org.translate.goog/wiki/Demand_for_money?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Demand for money">demand for money</a> could be described as depending on a small number of economic variables.<sup id="cite_ref-hilbertcorporation_12-0" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-hilbertcorporation-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup></p> <p>Thus, according to Friedman, when the <a href="https://en-m-wikipedia-org.translate.goog/wiki/Money_supply?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Money supply">money supply</a> expanded, people would not simply wish to hold the extra money in idle money balances; i.e., if they were in equilibrium before the increase, they were already holding money balances to suit their requirements, and thus after the increase they would have money balances surplus to their requirements. These excess money balances would therefore be spent and hence <a href="https://en-m-wikipedia-org.translate.goog/wiki/Aggregate_demand?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Aggregate demand">aggregate demand</a> would rise. Similarly, if the money supply were reduced people would want to replenish their holdings of money by reducing their spending. In this, Friedman challenged a simplification attributed to Keynes suggesting that "money does not matter."<sup id="cite_ref-hilbertcorporation_12-1" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-hilbertcorporation-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> Thus the word 'monetarist' was coined.</p> <p>The popularity of monetarism picked up in political circles when the prevailing view of <a href="https://en-m-wikipedia-org.translate.goog/wiki/Neoclassical_synthesis?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Neoclassical synthesis">neo-Keynesian economics</a> seemed unable to explain the contradictory problems of rising <a href="https://en-m-wikipedia-org.translate.goog/wiki/Unemployment?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Unemployment">unemployment</a> and <a href="https://en-m-wikipedia-org.translate.goog/wiki/Inflation_(economics)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="Inflation (economics)">inflation</a> in response to the <a href="https://en-m-wikipedia-org.translate.goog/wiki/Nixon_shock?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Nixon shock">Nixon shock</a> in 1971 and the <a href="https://en-m-wikipedia-org.translate.goog/wiki/1973_oil_crisis?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="1973 oil crisis">oil shocks of 1973</a>. On one hand, higher unemployment seemed to call for <a href="https://en-m-wikipedia-org.translate.goog/wiki/Reflation?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Reflation">reflation</a>, but on the other hand rising inflation seemed to call for <a href="https://en-m-wikipedia-org.translate.goog/wiki/Disinflation_(economics)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="Disinflation (economics)">disinflation</a>. The social-democratic <a href="https://en-m-wikipedia-org.translate.goog/wiki/Post-war_consensus?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Post-war consensus">post-war consensus</a> that had prevailed in <a href="https://en-m-wikipedia-org.translate.goog/wiki/First_World?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="First World">first world countries</a> was thus called into question by the rising <a href="https://en-m-wikipedia-org.translate.goog/wiki/Neoliberalism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Neoliberalism">neoliberal</a> political forces.<sup id="cite_ref-harvey1_2-1" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-harvey1-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup></p> <div class="mw-heading mw-heading3"> <h3 id="Monetarism_in_the_US_and_the_UK">Monetarism in the US and the UK</h3><span class="mw-editsection"> <a role="button" href="https://en-m-wikipedia-org.translate.goog/w/index.php?title=Monetarism&action=edit&section=6&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Edit section: Monetarism in the US and the UK" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> <span class="minerva-icon minerva-icon--edit"></span> <span>edit</span> </a> </span> </div> <p>In 1979, United States President <a href="https://en-m-wikipedia-org.translate.goog/wiki/Jimmy_Carter?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Jimmy Carter">Jimmy Carter</a> appointed as Federal Reserve Chief <a href="https://en-m-wikipedia-org.translate.goog/wiki/Paul_Volcker?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Paul Volcker">Paul Volcker</a>, who made fighting inflation his primary objective, and who restricted the money supply (in accordance with the <a href="https://en-m-wikipedia-org.translate.goog/wiki/Friedman_rule?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Friedman rule">Friedman rule</a>) to tame inflation in the economy. The result was a major rise in interest rates, not only in the United States; but worldwide. The "Volcker shock" continued from 1979 to the summer of 1982, decreasing inflation and increasing unemployment.<sup id="cite_ref-13" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup></p> <p>In May 1979, <a href="https://en-m-wikipedia-org.translate.goog/wiki/Margaret_Thatcher?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Margaret Thatcher">Margaret Thatcher</a>, Leader of the <a href="https://en-m-wikipedia-org.translate.goog/wiki/Conservative_Party_(UK)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Conservative Party (UK)">Conservative Party</a> in the <a href="https://en-m-wikipedia-org.translate.goog/wiki/United_Kingdom?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="United Kingdom">United Kingdom</a>, won the <a href="https://en-m-wikipedia-org.translate.goog/wiki/1979_United_Kingdom_general_election?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="1979 United Kingdom general election">general election</a>, defeating the sitting <a href="https://en-m-wikipedia-org.translate.goog/wiki/Labour_Party_(UK)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Labour Party (UK)">Labour Government</a> led by <a href="https://en-m-wikipedia-org.translate.goog/wiki/James_Callaghan?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="James Callaghan">James Callaghan</a>. By that time, the UK had endured several years of severe <a href="https://en-m-wikipedia-org.translate.goog/wiki/Inflation?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Inflation">inflation</a>, which was rarely below the 10% mark and stood at 10.3% by the time of the election.<sup id="cite_ref-14" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> Thatcher implemented monetarism as the weapon in her battle against inflation, and succeeded at reducing it to 4.6% by 1983. However, <a href="https://en-m-wikipedia-org.translate.goog/wiki/Unemployment_in_the_United_Kingdom?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Unemployment in the United Kingdom">unemployment in the United Kingdom</a> increased from 5.7% in 1979 to 12.2% in 1983, reaching 13.0% in 1982; starting with the first quarter of 1980, the UK economy contracted in terms of real gross domestic product for six straight quarters.<sup id="cite_ref-15" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup></p> </section> <div class="mw-heading mw-heading2 section-heading" onclick="mfTempOpenSection(3)"> <span class="indicator mf-icon mf-icon-expand mf-icon--small"></span> <h2 id="Decline">Decline</h2><span class="mw-editsection"> <a role="button" href="https://en-m-wikipedia-org.translate.goog/w/index.php?title=Monetarism&action=edit&section=7&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Edit section: Decline" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> <span class="minerva-icon minerva-icon--edit"></span> <span>edit</span> </a> </span> </div> <section class="mf-section-3 collapsible-block" id="mf-section-3"> <p>Monetarist ascendancy was brief, however.<sup id="cite_ref-IMF_10-1" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-IMF-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> The period when major central banks focused on targeting the growth of money supply, reflecting monetarist theory, lasted only for a few years, in the US from 1979 to 1982.<sup id="cite_ref-16" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup></p> <p>The money supply is useful as a policy target only if the relationship between money and nominal GDP, and therefore inflation, is stable and predictable. This implies that the velocity of money must be predictable. In the 1970s velocity had seemed to increase at a fairly constant rate, but in the 1980s and 1990s velocity became highly unstable, experiencing unpredictable periods of increases and declines. Consequently, the stable correlation between the money supply and nominal GDP broke down, and the usefulness of the monetarist approach came into question. Many economists who had been convinced by monetarism in the 1970s abandoned the approach after this experience.<sup id="cite_ref-IMF_10-2" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-IMF-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup></p> <p>The changing velocity originated in shifts in the <a href="https://en-m-wikipedia-org.translate.goog/wiki/Demand_for_money?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Demand for money">demand for money</a> and created serious problems for the central banks. This provoked a thorough rethinking of monetary policy. In the early 1990s central banks started focusing on targeting inflation directly using the short-run <a href="https://en-m-wikipedia-org.translate.goog/wiki/Interest_rate?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Interest rate">interest rate</a> as their central policy variable, abandoning earlier emphasis on money growth. The new strategy proved successful, and today most major central banks follow a flexible <a href="https://en-m-wikipedia-org.translate.goog/wiki/Inflation_targeting?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Inflation targeting">inflation targeting</a>.<sup id="cite_ref-Blanchard_5-2" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-Blanchard-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 483–485">: 483–485 </span></sup></p> </section> <div class="mw-heading mw-heading2 section-heading" onclick="mfTempOpenSection(4)"> <span class="indicator mf-icon mf-icon-expand mf-icon--small"></span> <h2 id="Legacy">Legacy</h2><span class="mw-editsection"> <a role="button" href="https://en-m-wikipedia-org.translate.goog/w/index.php?title=Monetarism&action=edit&section=8&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Edit section: Legacy" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> <span class="minerva-icon minerva-icon--edit"></span> <span>edit</span> </a> </span> </div> <section class="mf-section-4 collapsible-block" id="mf-section-4"> <p>Even though monetarism failed in practical policy, and the close attention to money growth which was at the heart of monetarist analysis is rejected by most economists today, some aspects of monetarism have found their way into modern mainstream economic thinking.<sup id="cite_ref-IMF_10-3" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-IMF-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-17" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> Among them are the belief that controlling inflation should be a primary responsibility of the central bank.<sup id="cite_ref-IMF_10-4" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-IMF-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> It is also widely recognized that monetary policy, as well as fiscal policy, can affect output in the short run.<sup id="cite_ref-Blanchard_5-3" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-Blanchard-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 511">: 511 </span></sup> In this way, important monetarist thoughts have been subsumed into the <a href="https://en-m-wikipedia-org.translate.goog/wiki/New_neoclassical_synthesis?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="New neoclassical synthesis">new neoclassical synthesis</a> or consensus view of macroeconomics that emerged in the 2000s.<sup id="cite_ref-18" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Blanchard_5-4" class="reference"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_note-Blanchard-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 518">: 518 </span></sup></p> </section> <div class="mw-heading mw-heading2 section-heading" onclick="mfTempOpenSection(5)"> <span class="indicator mf-icon mf-icon-expand mf-icon--small"></span> <h2 id="Notable_proponents">Notable proponents</h2><span class="mw-editsection"> <a role="button" href="https://en-m-wikipedia-org.translate.goog/w/index.php?title=Monetarism&action=edit&section=9&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Edit section: Notable proponents" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> <span class="minerva-icon minerva-icon--edit"></span> <span>edit</span> </a> </span> </div> <section class="mf-section-5 collapsible-block" id="mf-section-5"> <style data-mw-deduplicate="TemplateStyles:r1184024115">.mw-parser-output .div-col{margin-top:0.3em;column-width:30em}.mw-parser-output .div-col-small{font-size:90%}.mw-parser-output .div-col-rules{column-rule:1px solid #aaa}.mw-parser-output .div-col dl,.mw-parser-output .div-col ol,.mw-parser-output .div-col ul{margin-top:0}.mw-parser-output .div-col li,.mw-parser-output .div-col dd{page-break-inside:avoid;break-inside:avoid-column}</style> <div class="div-col" style="column-width: 20em;"> <ul> <li><a href="https://en-m-wikipedia-org.translate.goog/wiki/Karl_Brunner_(economist)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Karl Brunner (economist)">Karl Brunner</a></li> <li><a href="https://en-m-wikipedia-org.translate.goog/wiki/Phillip_D._Cagan?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Phillip D. Cagan">Phillip D. Cagan</a></li> <li><a href="https://en-m-wikipedia-org.translate.goog/wiki/Tim_Congdon?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Tim Congdon">Tim Congdon</a></li> <li><a href="https://en-m-wikipedia-org.translate.goog/wiki/Milton_Friedman?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Milton Friedman">Milton Friedman</a></li> <li><a href="https://en-m-wikipedia-org.translate.goog/wiki/Alan_Greenspan?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Alan Greenspan">Alan Greenspan</a></li> <li><a href="https://en-m-wikipedia-org.translate.goog/wiki/Steve_Hanke?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Steve Hanke">Steve Hanke</a></li> <li><a href="https://en-m-wikipedia-org.translate.goog/wiki/David_Laidler?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="David Laidler">David Laidler</a></li> <li><a href="https://en-m-wikipedia-org.translate.goog/wiki/Allan_H._Meltzer?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Allan H. Meltzer">Allan H. Meltzer</a></li> <li><a href="https://en-m-wikipedia-org.translate.goog/wiki/Anna_Schwartz?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Anna Schwartz">Anna Schwartz</a></li> <li><a href="https://en-m-wikipedia-org.translate.goog/wiki/Margaret_Thatcher?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Margaret Thatcher">Margaret Thatcher</a></li> <li><a href="https://en-m-wikipedia-org.translate.goog/wiki/Paul_Volcker?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Paul Volcker">Paul Volcker</a></li> <li><a href="https://en-m-wikipedia-org.translate.goog/wiki/Clark_Warburton?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Clark Warburton">Clark Warburton</a></li> </ul> </div> </section> <div class="mw-heading mw-heading2 section-heading" onclick="mfTempOpenSection(6)"> <span class="indicator mf-icon mf-icon-expand mf-icon--small"></span> <h2 id="See_also">See also</h2><span class="mw-editsection"> <a role="button" href="https://en-m-wikipedia-org.translate.goog/w/index.php?title=Monetarism&action=edit&section=10&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Edit section: See also" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> <span class="minerva-icon minerva-icon--edit"></span> <span>edit</span> </a> </span> </div> <section class="mf-section-6 collapsible-block" id="mf-section-6"> <style data-mw-deduplicate="TemplateStyles:r1239009302">.mw-parser-output .portalbox{padding:0;margin:0.5em 0;display:table;box-sizing:border-box;max-width:175px;list-style:none}.mw-parser-output .portalborder{border:1px solid var(--border-color-base,#a2a9b1);padding:0.1em;background:var(--background-color-neutral-subtle,#f8f9fa)}.mw-parser-output .portalbox-entry{display:table-row;font-size:85%;line-height:110%;height:1.9em;font-style:italic;font-weight:bold}.mw-parser-output .portalbox-image{display:table-cell;padding:0.2em;vertical-align:middle;text-align:center}.mw-parser-output .portalbox-link{display:table-cell;padding:0.2em 0.2em 0.2em 0.3em;vertical-align:middle}@media(min-width:720px){.mw-parser-output .portalleft{clear:left;float:left;margin:0.5em 1em 0.5em 0}.mw-parser-output .portalright{clear:right;float:right;margin:0.5em 0 0.5em 1em}}</style> <ul role="navigation" aria-label="Portals" class="noprint portalbox portalborder portalright"> <li class="portalbox-entry"><span class="portalbox-image"><span class="noviewer" typeof="mw:File"><span> <noscript> <img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/c/cd/Socrates.png/18px-Socrates.png" decoding="async" width="18" height="28" class="mw-file-element" data-file-width="326" data-file-height="500"> </noscript><span class="lazy-image-placeholder" style="width: 18px;height: 28px;" data-src="//upload.wikimedia.org/wikipedia/commons/thumb/c/cd/Socrates.png/18px-Socrates.png" data-alt="" data-width="18" data-height="28" data-srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/cd/Socrates.png/27px-Socrates.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/cd/Socrates.png/36px-Socrates.png 2x" data-class="mw-file-element"> </span></span></span></span><span class="portalbox-link"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Portal:Philosophy?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Portal:Philosophy">Philosophy portal</a></span></li> <li class="portalbox-entry"><span class="portalbox-image"><span class="noviewer" typeof="mw:File"><a href="https://en-m-wikipedia-org.translate.goog/wiki/File:Emblem-money.svg?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-file-description"> <noscript> <img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/28px-Emblem-money.svg.png" decoding="async" width="28" height="28" class="mw-file-element" data-file-width="48" data-file-height="48"> </noscript><span class="lazy-image-placeholder" style="width: 28px;height: 28px;" data-src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/28px-Emblem-money.svg.png" data-alt="icon" data-width="28" data-height="28" data-srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/42px-Emblem-money.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/56px-Emblem-money.svg.png 2x" data-class="mw-file-element"> </span></a></span></span><span class="portalbox-link"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Portal:Economics?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Portal:Economics">Economics portal</a></span></li> </ul> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1184024115"> <div class="div-col"> <ul> <li><a href="https://en-m-wikipedia-org.translate.goog/wiki/Chicago_school_of_economics?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Chicago school of economics">Chicago school of economics</a></li> <li><a href="https://en-m-wikipedia-org.translate.goog/wiki/Demurrage_(currency)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Demurrage (currency)">Demurrage (currency)</a></li> <li><a href="https://en-m-wikipedia-org.translate.goog/wiki/Fiscalism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Fiscalism">Fiscalism</a> (usually contrasted to monetarism)</li> <li><a href="https://en-m-wikipedia-org.translate.goog/wiki/Market_monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Market monetarism">Market monetarism</a></li> <li><a href="https://en-m-wikipedia-org.translate.goog/wiki/Modern_Monetary_Theory?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="Modern Monetary Theory">Modern Monetary Theory</a></li> <li><a href="https://en-m-wikipedia-org.translate.goog/wiki/Money_creation?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Money creation">Money creation</a> - process in which <a href="https://en-m-wikipedia-org.translate.goog/wiki/Commercial_bank?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Commercial bank">private banks</a> (primarily) or <a href="https://en-m-wikipedia-org.translate.goog/wiki/Central_bank?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Central bank">Central banks</a> (<a href="https://en-m-wikipedia-org.translate.goog/wiki/Quantitative_easing?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Quantitative easing">quantitative easing</a>) create money</li> </ul> </div> </section> <div class="mw-heading mw-heading2 section-heading" onclick="mfTempOpenSection(7)"> <span class="indicator mf-icon mf-icon-expand mf-icon--small"></span> <h2 id="References">References</h2><span class="mw-editsection"> <a role="button" href="https://en-m-wikipedia-org.translate.goog/w/index.php?title=Monetarism&action=edit&section=11&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Edit section: References" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> <span class="minerva-icon minerva-icon--edit"></span> <span>edit</span> </a> </span> </div> <section class="mf-section-7 collapsible-block" id="mf-section-7"> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style> <div class="reflist"> <div class="mw-references-wrap mw-references-columns"> <ol class="references"> <li id="cite_note-Cagan-1"><span class="mw-cite-backlink">^ <a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-Cagan_1-0"><sup><i><b>a</b></i></sup></a> <a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-Cagan_1-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Phillip_Cagan?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="Phillip Cagan">Phillip Cagan</a>, 1987. "Monetarism", <i><a href="https://en-m-wikipedia-org.translate.goog/wiki/The_New_Palgrave:_A_Dictionary_of_Economics?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="The New Palgrave: A Dictionary of Economics">The New Palgrave: A Dictionary of Economics</a></i>, v. 3, Reprinted in John Eatwell et al. (1989), <i>Money: The New Palgrave</i>, pp. 195–205, 492–97.</span></li> <li id="cite_note-harvey1-2"><span class="mw-cite-backlink">^ <a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-harvey1_2-0"><sup><i><b>a</b></i></sup></a> <a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-harvey1_2-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFHarvey2005" class="citation book cs1"><a href="https://en-m-wikipedia-org.translate.goog/wiki/David_Harvey_(geographer)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="David Harvey (geographer)">Harvey, David</a> (2005). <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://global.oup.com/academic/product/a-brief-history-of-neoliberalism-9780199283279?cc%3Dus%26lang%3Den%26"><i>A Brief History of Neoliberalism</i></a>. <a href="https://en-m-wikipedia-org.translate.goog/wiki/Oxford_University_Press?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Oxford University Press">Oxford University Press</a>. <a href="https://en-m-wikipedia-org.translate.goog/wiki/ISBN_(identifier)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="https://en-m-wikipedia-org.translate.goog/wiki/Special:BookSources/978-0-19-928326-2?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Special:BookSources/978-0-19-928326-2"><bdi>978-0-19-928326-2</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=A+Brief+History+of+Neoliberalism&rft.pub=Oxford+University+Press&rft.date=2005&rft.isbn=978-0-19-928326-2&rft.aulast=Harvey&rft.aufirst=David&rft_id=https%3A%2F%2Fglobal.oup.com%2Facademic%2Fproduct%2Fa-brief-history-of-neoliberalism-9780199283279%3Fcc%3Dus%26lang%3Den%26&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMonetarism" class="Z3988"></span></span></li> <li id="cite_note-3"><span class="mw-cite-backlink"><b><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-3">^</a></b></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFriedman2008" class="citation book cs1">Friedman, Milton (2008). <i>Monetary History of the United States, 1867-1960</i>. Princeton University Press. <a href="https://en-m-wikipedia-org.translate.goog/wiki/ISBN_(identifier)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="https://en-m-wikipedia-org.translate.goog/wiki/Special:BookSources/978-0691003542?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Special:BookSources/978-0691003542"><bdi>978-0691003542</bdi></a>. <a href="https://en-m-wikipedia-org.translate.goog/wiki/OCLC_(identifier)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="OCLC (identifier)">OCLC</a> <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://search.worldcat.org/oclc/994352014">994352014</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Monetary+History+of+the+United+States%2C+1867-1960.&rft.pub=Princeton+University+Press&rft.date=2008&rft_id=info%3Aoclcnum%2F994352014&rft.isbn=978-0691003542&rft.aulast=Friedman&rft.aufirst=Milton&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMonetarism" class="Z3988"></span></span></li> <li id="cite_note-reason-4"><span class="mw-cite-backlink"><b><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-reason_4-0">^</a></b></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDoherty1995" class="citation web cs1">Doherty, Brian (June 1995). <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=http://reason.com/archives/1995/06/01/best-of-both-worlds">"Best of Both Worlds"</a>. Reason<span class="reference-accessdate">. Retrieved <span class="nowrap">28 July</span> 2010</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Best+of+Both+Worlds&rft.pub=Reason&rft.date=1995-06&rft.aulast=Doherty&rft.aufirst=Brian&rft_id=http%3A%2F%2Freason.com%2Farchives%2F1995%2F06%2F01%2Fbest-of-both-worlds&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMonetarism" class="Z3988"></span></span></li> <li id="cite_note-Blanchard-5"><span class="mw-cite-backlink">^ <a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-Blanchard_5-0"><sup><i><b>a</b></i></sup></a> <a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-Blanchard_5-1"><sup><i><b>b</b></i></sup></a> <a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-Blanchard_5-2"><sup><i><b>c</b></i></sup></a> <a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-Blanchard_5-3"><sup><i><b>d</b></i></sup></a> <a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-Blanchard_5-4"><sup><i><b>e</b></i></sup></a></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBlanchardAmighiniGiavazzi2017" class="citation book cs1">Blanchard, Olivier; Amighini, Alessia; Giavazzi, Francesco (2017). <i>Macroeconomics: a European perspective</i> (3rd ed.). Pearson. <a href="https://en-m-wikipedia-org.translate.goog/wiki/ISBN_(identifier)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="https://en-m-wikipedia-org.translate.goog/wiki/Special:BookSources/978-1-292-08567-8?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Special:BookSources/978-1-292-08567-8"><bdi>978-1-292-08567-8</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Macroeconomics%3A+a+European+perspective&rft.edition=3rd&rft.pub=Pearson&rft.date=2017&rft.isbn=978-1-292-08567-8&rft.aulast=Blanchard&rft.aufirst=Olivier&rft.au=Amighini%2C+Alessia&rft.au=Giavazzi%2C+Francesco&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMonetarism" class="Z3988"></span></span></li> <li id="cite_note-Dimand-6"><span class="mw-cite-backlink"><b><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-Dimand_6-0">^</a></b></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDimand2016" class="citation book cs1">Dimand, Robert W. (2016). <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://link.springer.com/referenceworkentry/10.1057/978-1-349-95121-5_2721-1">"Monetary Economics, History of"</a>. <i>The New Palgrave Dictionary of Economics</i>. Palgrave Macmillan UK. pp. 1–13. <a href="https://en-m-wikipedia-org.translate.goog/wiki/Doi_(identifier)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://doi.org/10.1057%252F978-1-349-95121-5_2721-1">10.1057/978-1-349-95121-5_2721-1</a>. <a href="https://en-m-wikipedia-org.translate.goog/wiki/ISBN_(identifier)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="https://en-m-wikipedia-org.translate.goog/wiki/Special:BookSources/978-1-349-95121-5?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Special:BookSources/978-1-349-95121-5"><bdi>978-1-349-95121-5</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Monetary+Economics%2C+History+of&rft.btitle=The+New+Palgrave+Dictionary+of+Economics&rft.pages=1-13&rft.pub=Palgrave+Macmillan+UK&rft.date=2016&rft_id=info%3Adoi%2F10.1057%2F978-1-349-95121-5_2721-1&rft.isbn=978-1-349-95121-5&rft.aulast=Dimand&rft.aufirst=Robert+W.&rft_id=https%3A%2F%2Flink.springer.com%2Freferenceworkentry%2F10.1057%2F978-1-349-95121-5_2721-1&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMonetarism" class="Z3988"></span></span></li> <li id="cite_note-7"><span class="mw-cite-backlink"><b><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-7">^</a></b></span> <span class="reference-text">Milton Friedman (1956), "The Quantity Theory of Money: A Restatement" in <i>Studies in the Quantity Theory of Money</i>, edited by M. Friedman.]</span></li> <li id="cite_note-8"><span class="mw-cite-backlink"><b><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-8">^</a></b></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBordo1989" class="citation book cs1">Bordo, Michael D. (1989). <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://archive.org/details/moneyhistoryinte0000unse/page/46">"The Contribution of <i>A Monetury History</i>"</a>. <i>Money, History, & International Finance: Essays in Honor of Anna J. Schwartz</i>. The Increase in Reserve Requirements, 1936-37. University of Chicago Press. p. <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://archive.org/details/moneyhistoryinte0000unse/page/46">46</a>. <a href="https://en-m-wikipedia-org.translate.goog/wiki/CiteSeerX_(identifier)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="CiteSeerX (identifier)">CiteSeerX</a> <span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://citeseerx.ist.psu.edu/viewdoc/summary?doi%3D10.1.1.736.9649">10.1.1.736.9649</a></span>. <a href="https://en-m-wikipedia-org.translate.goog/wiki/ISBN_(identifier)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="https://en-m-wikipedia-org.translate.goog/wiki/Special:BookSources/0-226-06593-6?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Special:BookSources/0-226-06593-6"><bdi>0-226-06593-6</bdi></a><span class="reference-accessdate">. Retrieved <span class="nowrap">25 July</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=The+Contribution+of+A+Monetury+History&rft.btitle=Money%2C+History%2C+%26+International+Finance%3A+Essays+in+Honor+of+Anna+J.+Schwartz&rft.pages=46&rft.pub=University+of+Chicago+Press&rft.date=1989&rft_id=https%3A%2F%2Fciteseerx.ist.psu.edu%2Fviewdoc%2Fsummary%3Fdoi%3D10.1.1.736.9649%23id-name%3DCiteSeerX&rft.isbn=0-226-06593-6&rft.aulast=Bordo&rft.aufirst=Michael+D.&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fmoneyhistoryinte0000unse%2Fpage%2F46&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMonetarism" class="Z3988"></span></span></li> <li id="cite_note-FriedmanSchwartz-9"><span class="mw-cite-backlink"><b><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-FriedmanSchwartz_9-0">^</a></b></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMilton_FriedmanAnna_Schwartz2008" class="citation book cs1">Milton Friedman; Anna Schwartz (2008). <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://books.google.com/books?id%3D-lCArZfazBkC%26q%3D%2522Regarding%2520the%2520Great%2520Depression%2520You're%2520right%2520We%2520did%2520it%2522"><i>The Great Contraction, 1929–1933</i></a> (New ed.). Princeton University Press. <a href="https://en-m-wikipedia-org.translate.goog/wiki/ISBN_(identifier)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="https://en-m-wikipedia-org.translate.goog/wiki/Special:BookSources/978-0-691-13794-0?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Special:BookSources/978-0-691-13794-0"><bdi>978-0-691-13794-0</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Great+Contraction%2C+1929%E2%80%931933&rft.edition=New&rft.pub=Princeton+University+Press&rft.date=2008&rft.isbn=978-0-691-13794-0&rft.au=Milton+Friedman&rft.au=Anna+Schwartz&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3D-lCArZfazBkC%26q%3D%2522Regarding%2520the%2520Great%2520Depression%2520You%27re%2520right%2520We%2520did%2520it%2522&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMonetarism" class="Z3988"></span></span></li> <li id="cite_note-IMF-10"><span class="mw-cite-backlink">^ <a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-IMF_10-0"><sup><i><b>a</b></i></sup></a> <a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-IMF_10-1"><sup><i><b>b</b></i></sup></a> <a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-IMF_10-2"><sup><i><b>c</b></i></sup></a> <a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-IMF_10-3"><sup><i><b>d</b></i></sup></a> <a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-IMF_10-4"><sup><i><b>e</b></i></sup></a></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJahanPapageorgiou2014" class="citation journal cs1">Jahan, Sarwat; Papageorgiou, Chris (28 February 2014). <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://www.elibrary.imf.org/view/journals/022/0051/001/article-A012-en.xml">"Back to Basics What Is Monetarism?: Its emphasis on money's importance gained sway in the 1970s"</a>. <i>Finance & Development</i>. <b>51</b> (1). <a href="https://en-m-wikipedia-org.translate.goog/wiki/Doi_(identifier)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://doi.org/10.5089%252F9781484312025.022.A012">10.5089/9781484312025.022.A012</a> (inactive 1 November 2024)<span class="reference-accessdate">. Retrieved <span class="nowrap">16 October</span> 2023</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Finance+%26+Development&rft.atitle=Back+to+Basics+What+Is+Monetarism%3F%3A+Its+emphasis+on+money%27s+importance+gained+sway+in+the+1970s&rft.volume=51&rft.issue=1&rft.date=2014-02-28&rft_id=info%3Adoi%2F10.5089%2F9781484312025.022.A012&rft.aulast=Jahan&rft.aufirst=Sarwat&rft.au=Papageorgiou%2C+Chris&rft_id=https%3A%2F%2Fwww.elibrary.imf.org%2Fview%2Fjournals%2F022%2F0051%2F001%2Farticle-A012-en.xml&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMonetarism" class="Z3988"></span><span class="cs1-maint citation-comment"><code class="cs1-code">{{<a href="https://en-m-wikipedia-org.translate.goog/wiki/Template:Cite_journal?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Template:Cite journal">cite journal</a>}}</code>: CS1 maint: DOI inactive as of November 2024 (<a href="https://en-m-wikipedia-org.translate.goog/wiki/Category:CS1_maint:_DOI_inactive_as_of_November_2024?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Category:CS1 maint: DOI inactive as of November 2024">link</a>)</span></span></li> <li id="cite_note-11"><span class="mw-cite-backlink"><b><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-11">^</a></b></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://web.archive.org/web/20121114140436/http://fff.org/freedom/0399b.asp">"Monetary Central Planning and the State, Part 27: Milton Friedman's Second Thoughts on the Costs of Paper Money"</a>. Archived from <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=http://www.fff.org/freedom/0399b.asp">the original</a> on 14 November 2012.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Monetary+Central+Planning+and+the+State%2C+Part+27%3A+Milton+Friedman%27s+Second+Thoughts+on+the+Costs+of+Paper+Money&rft_id=http%3A%2F%2Fwww.fff.org%2Ffreedom%2F0399b.asp&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMonetarism" class="Z3988"></span></span></li> <li id="cite_note-hilbertcorporation-12"><span class="mw-cite-backlink">^ <a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-hilbertcorporation_12-0"><sup><i><b>a</b></i></sup></a> <a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-hilbertcorporation_12-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFriedman1970" class="citation journal cs1">Friedman, Milton (1970). "A Theoretical Framework for Monetary Analysis". <i><a href="https://en-m-wikipedia-org.translate.goog/wiki/Journal_of_Political_Economy?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Journal of Political Economy">Journal of Political Economy</a></i>. <b>78</b> (2): 193–238 [p. 210]. <a href="https://en-m-wikipedia-org.translate.goog/wiki/Doi_(identifier)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://doi.org/10.1086%252F259623">10.1086/259623</a>. <a href="https://en-m-wikipedia-org.translate.goog/wiki/JSTOR_(identifier)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://www.jstor.org/stable/1830684">1830684</a>. <a href="https://en-m-wikipedia-org.translate.goog/wiki/S2CID_(identifier)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://api.semanticscholar.org/CorpusID:154459930">154459930</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+Political+Economy&rft.atitle=A+Theoretical+Framework+for+Monetary+Analysis&rft.volume=78&rft.issue=2&rft.pages=193-238+p.+210&rft.date=1970&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A154459930%23id-name%3DS2CID&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F1830684%23id-name%3DJSTOR&rft_id=info%3Adoi%2F10.1086%2F259623&rft.aulast=Friedman&rft.aufirst=Milton&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMonetarism" class="Z3988"></span></span></li> <li id="cite_note-13"><span class="mw-cite-backlink"><b><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-13">^</a></b></span> <span class="reference-text">Reichart Alexandre & Abdelkader Slifi (2016). 'The Influence of Monetarism on Federal Reserve Policy during the 1980s.' Cahiers d'économie Politique/Papers in Political Economy, (1), pp. 107–50. <a rel="nofollow" class="external free" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://www.cairn.info/revue-cahiers-d-economie-politique-2016-1-page-107.htm">https://www.cairn.info/revue-cahiers-d-economie-politique-2016-1-page-107.htm</a></span></li> <li id="cite_note-14"><span class="mw-cite-backlink"><b><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-14">^</a></b></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHealey1990" class="citation journal cs1">Healey, Nigel M. (1990). <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://www.jstor.org/stable/40721141">"Fighting Inflation In Britain"</a>. <i>Challenge</i>. <b>33</b> (2): 37–41. <a href="https://en-m-wikipedia-org.translate.goog/wiki/Doi_(identifier)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://doi.org/10.1080%252F05775132.1990.11471411">10.1080/05775132.1990.11471411</a>. <a href="https://en-m-wikipedia-org.translate.goog/wiki/ISSN_(identifier)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://search.worldcat.org/issn/0577-5132">0577-5132</a>. <a href="https://en-m-wikipedia-org.translate.goog/wiki/JSTOR_(identifier)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://www.jstor.org/stable/40721141">40721141</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Challenge&rft.atitle=Fighting+Inflation+In+Britain&rft.volume=33&rft.issue=2&rft.pages=37-41&rft.date=1990&rft.issn=0577-5132&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F40721141%23id-name%3DJSTOR&rft_id=info%3Adoi%2F10.1080%2F05775132.1990.11471411&rft.aulast=Healey&rft.aufirst=Nigel+M.&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F40721141&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMonetarism" class="Z3988"></span></span></li> <li id="cite_note-15"><span class="mw-cite-backlink"><b><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-15">^</a></b></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://fred.stlouisfed.org/series/CLVMNACSAB1GQUK">"Real Gross Domestic Product for United Kingdom, Federal Reserve Bank of St. Louis"</a>. January 1975<span class="reference-accessdate">. Retrieved <span class="nowrap">16 December</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Real+Gross+Domestic+Product+for+United+Kingdom%2C+Federal+Reserve+Bank+of+St.+Louis&rft.date=1975-01&rft_id=https%3A%2F%2Ffred.stlouisfed.org%2Fseries%2FCLVMNACSAB1GQUK&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMonetarism" class="Z3988"></span></span></li> <li id="cite_note-16"><span class="mw-cite-backlink"><b><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-16">^</a></b></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMattos2022" class="citation book cs1">Mattos, Olivia Bullio (1 January 2022). <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://www.sciencedirect.com/science/article/abs/pii/B9780128158982000069">"Chapter Seventeen - Monetary policy after the subprime crisis: a Post-Keynesian critique"</a>. <i>Handbook of Economic Stagnation</i>. Academic Press. pp. 341–359. <a href="https://en-m-wikipedia-org.translate.goog/wiki/ISBN_(identifier)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="https://en-m-wikipedia-org.translate.goog/wiki/Special:BookSources/978-0-12-815898-2?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Special:BookSources/978-0-12-815898-2"><bdi>978-0-12-815898-2</bdi></a><span class="reference-accessdate">. Retrieved <span class="nowrap">16 October</span> 2023</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Chapter+Seventeen+-+Monetary+policy+after+the+subprime+crisis%3A+a+Post-Keynesian+critique&rft.btitle=Handbook+of+Economic+Stagnation&rft.pages=341-359&rft.pub=Academic+Press&rft.date=2022-01-01&rft.isbn=978-0-12-815898-2&rft.aulast=Mattos&rft.aufirst=Olivia+Bullio&rft_id=https%3A%2F%2Fwww.sciencedirect.com%2Fscience%2Farticle%2Fabs%2Fpii%2FB9780128158982000069&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMonetarism" class="Z3988"></span></span></li> <li id="cite_note-17"><span class="mw-cite-backlink"><b><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-17">^</a></b></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLongBradford2000" class="citation journal cs1">Long, De; Bradford, J. (March 2000). <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://www.aeaweb.org/articles?id%3D10.1257/jep.14.1.83">"The Triumph of Monetarism?"</a>. <i>Journal of Economic Perspectives</i>. <b>14</b> (1): 83–94. <a href="https://en-m-wikipedia-org.translate.goog/wiki/Doi_(identifier)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://doi.org/10.1257%252Fjep.14.1.83">10.1257/jep.14.1.83</a>. <a href="https://en-m-wikipedia-org.translate.goog/wiki/ISSN_(identifier)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://search.worldcat.org/issn/0895-3309">0895-3309</a><span class="reference-accessdate">. Retrieved <span class="nowrap">16 October</span> 2023</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+Economic+Perspectives&rft.atitle=The+Triumph+of+Monetarism%3F&rft.volume=14&rft.issue=1&rft.pages=83-94&rft.date=2000-03&rft_id=info%3Adoi%2F10.1257%2Fjep.14.1.83&rft.issn=0895-3309&rft.aulast=Long&rft.aufirst=De&rft.au=Bradford%2C+J.&rft_id=https%3A%2F%2Fwww.aeaweb.org%2Farticles%3Fid%3D10.1257%2Fjep.14.1.83&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMonetarism" class="Z3988"></span></span></li> <li id="cite_note-18"><span class="mw-cite-backlink"><b><a href="https://en-m-wikipedia-org.translate.goog/wiki/Monetarism?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB#cite_ref-18">^</a></b></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGoodfriendKing1997" class="citation book cs1">Goodfriend, Marvin; King, Robert G. (January 1997). "The New Neoclassical Synthesis and the Role of Monetary Policy". <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=http://www.nber.org/chapters/c11040"><i>NBER Macroeconomics Annual 1997, Volume 12</i></a>. MIT Press. pp. 231–296.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=The+New+Neoclassical+Synthesis+and+the+Role+of+Monetary+Policy&rft.btitle=NBER+Macroeconomics+Annual+1997%2C+Volume+12&rft.pages=231-296&rft.pub=MIT+Press&rft.date=1997-01&rft.aulast=Goodfriend&rft.aufirst=Marvin&rft.au=King%2C+Robert+G.&rft_id=http%3A%2F%2Fwww.nber.org%2Fchapters%2Fc11040&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMonetarism" class="Z3988"></span></span></li> </ol> </div> </div> </section> <div class="mw-heading mw-heading2 section-heading" onclick="mfTempOpenSection(8)"> <span class="indicator mf-icon mf-icon-expand mf-icon--small"></span> <h2 id="Further_reading">Further reading</h2><span class="mw-editsection"> <a role="button" href="https://en-m-wikipedia-org.translate.goog/w/index.php?title=Monetarism&action=edit&section=12&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Edit section: Further reading" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> <span class="minerva-icon minerva-icon--edit"></span> <span>edit</span> </a> </span> </div> <section class="mf-section-8 collapsible-block" id="mf-section-8"> <ul> <li>Andersen, Leonall C., and Jerry L. Jordan, 1968. "Monetary and Fiscal Actions: A Test of Their Relative Importance in Economic Stabilisation", Federal Reserve Bank of St. Louis <i>Review</i> (November), pp. 11–24. <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=http://research.stlouisfed.org/publications/review/86/10/Fiscal_Oct1986.pdf">PDF</a> (30 sec. load: press <b>+</b>) and <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=http://research.stlouisfed.org/publications/review/86/10/Fiscal_Oct1986.pdf%3D1">HTML.</a></li> <li>_____, 1969. "Monetary and Fiscal Actions: A Test of Their Relative Importance in Economic Stabilisation — Reply", Federal Reserve Bank of St. Louis <i>Review</i> (April), pp. 12–16. <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=http://research.stlouisfed.org/publications/review/69/04/Reply_Apr1969.pdf">PDF</a> (15 sec. load; press <b>+</b>) and <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=http://research.stlouisfed.org/publications/review/69/04/Reply_Apr1969.pdf%3D1">HTML.</a></li> <li>Brunner, Karl, and Allan H. Meltzer, 1993. <i>Money and the Economy: Issues in Monetary Analysis</i>, Cambridge. <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://books.google.com/books?id%3DeGjfH47Roj4C%26q%3DBrunner%2BMeltzer%2B%2522Money%2Band%2Bthe%2BEconomy:%2BIssues%2B%2Bin%2BMonetary%2BAnalysis'">Description</a> and chapter previews, pp. <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://books.google.com/books?id%3DeGjfH47Roj4C%26dq%3DBrunner%2BMeltzer%2B%2522Money%2Band%2Bthe%2BEconomy:%2BIssues%2B%2Bin%2BMonetary%2BAnalysis%2527.%26pg%3DPR9">ix</a>–<a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://books.google.com/books?id%3DeGjfH47Roj4C%26dq%3DBrunner%2BMeltzer%2B%2522Money%2Band%2Bthe%2BEconomy:%2BIssues%2B%2Bin%2BMonetary%2BAnalysis%2527.%26pg%3DPR10">x.</a></li> <li>Cagan, Phillip, 1965. <i>Determinants and Effects of Changes in the Stock of Money, 1875–1960</i>. NBER. Foreword by Milton Friedman, pp. xiii–xxviii. <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://www.nber.org/books/caga65-1">Table of Contents.</a></li> <li>Friedman, Milton, ed. 1956. <i>Studies in the Quantity Theory of Money</i>, Chicago. Chapter 1 is previewed at Friedman, 2005, ch. 2 link.</li> <li>_____, 1960. <i>A Program for Monetary Stability</i>. Fordham University Press.</li> <li>_____, 1968. "The Role of Monetary Policy", <i>American Economic Review</i>, 58(1), pp. <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://web.archive.org/web/20100529152742/http://www.nvcc.edu/home/jmin/ReadingStuff/The%2520Role%2520of%2520Monetary%2520Policy%2520by%2520Friedman.pdf">1–17</a> (press <b>+</b>).</li> <li>_____, [1969] 2005. <i>The Optimum Quantity of Money</i>. <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://books.google.com/books?id%3DXVCgcHQS_nQC">Description</a> and <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://books.google.com/books?id%3DXVCgcHQS_nQC">table of contents</a>, with previews of 3 chapters.</li> <li>Friedman, Milton, and David Meiselman, 1963. "The Relative Stability of Monetary Velocity and the Investment Multiplier in the United States, 1897–1958", in <i>Stabilization Policies</i>, pp. 165–268. Prentice-Hall/Commission on Money and Credit, 1963.</li> <li>Friedman, Milton, and Anna Jacobson Schwartz, 1963a. "Money and Business Cycles", <i>Review of Economics and Statistics</i>, 45(1), Part 2, Supplement, p. <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://www.jstor.org/pss/1927148">p. 32</a>–64. Reprinted in Schwartz, 1987, <i>Money in Historical Perspective</i>, ch. 2.</li> <li>_____. 1963b. <i>A Monetary History of the United States, 1867–1960</i>. Princeton. Page-searchable links to chapters on <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://books.google.com/books?id%3DQ7J_EUM3RfoC%26dq%3D%2522A%2BMonetary%2BHistory%2Bof%2Bthe%2BUnited%2BStates,%2B1867-1960%2522%26pg%3DPR9">1929-41</a> and <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://books.google.com/books?id%3DQ7J_EUM3RfoC%26dq%3D%2522A%2BMonetary%2BHistory%2Bof%2Bthe%2BUnited%2BStates,%2B1867-1960%2522%26pg%3DPR10">1948–60</a></li> <li><a href="https://en-m-wikipedia-org.translate.goog/wiki/Harry_Gordon_Johnson?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Harry Gordon Johnson">Johnson, Harry G.</a>, 1971. "The Keynesian Revolutions and the Monetarist Counter-Revolution", <i>American Economic Review</i>, 61(2), p. <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://www.jstor.org/pss/1816968">p. 1</a>–14. Reprinted in <a href="https://en-m-wikipedia-org.translate.goog/wiki/John_Cunningham_Wood?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="John Cunningham Wood">John Cunningham Wood</a> and Ronald N. Woods, ed., 1990, <i>Milton Friedman: Critical Assessments</i>, v. 2, p. <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://books.google.com/books?id%3Dt4-nLZRU_GAC%26pg%3DPA72">p. 72</a> <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://books.google.com/books?id%3Dt4-nLZRU_GAC">–</a> 88. Routledge,</li> <li>Laidler, David E.W., 1993. <i>The Demand for Money: Theories, Evidence, and Problems</i>, 4th ed. <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://www.amazon.co.uk/Demand-Money-Theories-HarperCollins-Economics/dp/0065010981">Description.</a></li> <li><a href="https://en-m-wikipedia-org.translate.goog/wiki/Anna_J._Schwartz?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="Anna J. Schwartz">Schwartz, Anna J.</a>, 1987. <i>Money in Historical Perspective</i>, University of Chicago Press. <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://books.google.com/books?id%3DOco-yeAJhaEC">Description</a> and Chapter-preview links, pp. <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://books.google.com/books?id%3DOco-yeAJhaEC%26pg%3DPR7">vii</a>-<a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://books.google.com/books?id%3DOco-yeAJhaEC%26pg%3DPR8">viii.</a></li> <li>Warburton, Clark, 1966. <i>Depression, Inflation, and Monetary Policy; Selected Papers, 1945–1953</i> Johns Hopkins Press. <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://www.amazon.com/gp/product/0801806550">Amazon Summary</a> in Anna J. Schwartz, <i>Money in Historical Perspective</i>, 1987.</li> </ul> </section> <div class="mw-heading mw-heading2 section-heading" onclick="mfTempOpenSection(9)"> <span class="indicator mf-icon mf-icon-expand mf-icon--small"></span> <h2 id="External_links">External links</h2><span class="mw-editsection"> <a role="button" href="https://en-m-wikipedia-org.translate.goog/w/index.php?title=Monetarism&action=edit&section=13&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Edit section: External links" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> <span class="minerva-icon minerva-icon--edit"></span> <span>edit</span> </a> </span> </div> <section class="mf-section-9 collapsible-block" id="mf-section-9"> <ul> <li><a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://web.archive.org/web/20070821085549/http://cepa.newschool.edu/het/schools/monetar.htm">"Monetarism"</a> at The New School's Economics Department's History of Economic Thought website.</li> <li> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMcCallum2008" class="citation encyclopaedia cs1"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Bennett_McCallum?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Bennett McCallum">McCallum, Bennett T.</a> (2008). <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=http://www.econlib.org/library/Enc/Monetarism.html">"Monetarism"</a>. In <a href="https://en-m-wikipedia-org.translate.goog/wiki/David_R._Henderson?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="David R. Henderson">David R. Henderson</a> (ed.). <i><a href="https://en-m-wikipedia-org.translate.goog/wiki/Concise_Encyclopedia_of_Economics?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="Concise Encyclopedia of Economics">Concise Encyclopedia of Economics</a></i> (2nd ed.). Indianapolis: <a href="https://en-m-wikipedia-org.translate.goog/wiki/Library_of_Economics_and_Liberty?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="Library of Economics and Liberty">Library of Economics and Liberty</a>. <a href="https://en-m-wikipedia-org.translate.goog/wiki/ISBN_(identifier)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="https://en-m-wikipedia-org.translate.goog/wiki/Special:BookSources/978-0865976658?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="Special:BookSources/978-0865976658"><bdi>978-0865976658</bdi></a>. <a href="https://en-m-wikipedia-org.translate.goog/wiki/OCLC_(identifier)?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" class="mw-redirect" title="OCLC (identifier)">OCLC</a> <a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://search.worldcat.org/oclc/237794267">237794267</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Monetarism&rft.btitle=Concise+Encyclopedia+of+Economics&rft.place=Indianapolis&rft.edition=2nd&rft.pub=Library+of+Economics+and+Liberty&rft.date=2008&rft_id=info%3Aoclcnum%2F237794267&rft.isbn=978-0865976658&rft.aulast=McCallum&rft.aufirst=Bennett+T.&rft_id=http%3A%2F%2Fwww.econlib.org%2Flibrary%2FEnc%2FMonetarism.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMonetarism" class="Z3988"></span></li> <li><a rel="nofollow" class="external text" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=http://www.economist.com/economics-a-to-z/m%23node-21529789">Monetarism</a> from the Economics A–Z of <a href="https://en-m-wikipedia-org.translate.goog/wiki/The_Economist?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB" title="The Economist">The Economist</a></li> </ul> <div class="navbox-styles"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"> <style data-mw-deduplicate="TemplateStyles:r1236075235">.mw-parser-output .navbox{box-sizing:border-box;border:1px solid #a2a9b1;width:100%;clear:both;font-size:88%;text-align:center;padding:1px;margin:1em auto 0}.mw-parser-output .navbox .navbox{margin-top:0}.mw-parser-output .navbox+.navbox,.mw-parser-output .navbox+.navbox-styles+.navbox{margin-top:-1px}.mw-parser-output .navbox-inner,.mw-parser-output .navbox-subgroup{width:100%}.mw-parser-output .navbox-group,.mw-parser-output .navbox-title,.mw-parser-output .navbox-abovebelow{padding:0.25em 1em;line-height:1.5em;text-align:center}.mw-parser-output .navbox-group{white-space:nowrap;text-align:right}.mw-parser-output .navbox,.mw-parser-output .navbox-subgroup{background-color:#fdfdfd}.mw-parser-output .navbox-list{line-height:1.5em;border-color:#fdfdfd}.mw-parser-output .navbox-list-with-group{text-align:left;border-left-width:2px;border-left-style:solid}.mw-parser-output tr+tr>.navbox-abovebelow,.mw-parser-output tr+tr>.navbox-group,.mw-parser-output tr+tr>.navbox-image,.mw-parser-output tr+tr>.navbox-list{border-top:2px solid #fdfdfd}.mw-parser-output .navbox-title{background-color:#ccf}.mw-parser-output .navbox-abovebelow,.mw-parser-output .navbox-group,.mw-parser-output .navbox-subgroup .navbox-title{background-color:#ddf}.mw-parser-output .navbox-subgroup .navbox-group,.mw-parser-output .navbox-subgroup .navbox-abovebelow{background-color:#e6e6ff}.mw-parser-output .navbox-even{background-color:#f7f7f7}.mw-parser-output .navbox-odd{background-color:transparent}.mw-parser-output .navbox .hlist td dl,.mw-parser-output .navbox .hlist td ol,.mw-parser-output .navbox .hlist td ul,.mw-parser-output .navbox td.hlist dl,.mw-parser-output .navbox td.hlist ol,.mw-parser-output .navbox td.hlist ul{padding:0.125em 0}.mw-parser-output .navbox .navbar{display:block;font-size:100%}.mw-parser-output .navbox-title .navbar{float:left;text-align:left;margin-right:0.5em}body.skin--responsive .mw-parser-output .navbox-image img{max-width:none!important}@media print{body.ns-0 .mw-parser-output .navbox{display:none!important}}</style> <style data-mw-deduplicate="TemplateStyles:r1066933788">.mw-parser-output .excerpt-hat .mw-editsection-like{font-style:normal}</style> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"> </div> <div class="navbox-styles"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"> </div> <div class="navbox-styles"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"> </div> <div class="navbox-styles"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"> </div> <div class="navbox-styles"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239009302"> </div> <div class="navbox-styles"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"> </div> <div class="navbox-styles"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"> <style data-mw-deduplicate="TemplateStyles:r1038841319">.mw-parser-output .tooltip-dotted{border-bottom:1px dotted;cursor:help}</style> </div>   </section> </div> <noscript> <img src="https://login.m.wikimedia.org/wiki/Special:CentralAutoLogin/start?type=1x1&mobile=1" alt="" width="1" height="1" style="border: none; position: absolute;"> </noscript> <div class="printfooter" data-nosnippet=""> Retrieved from "<a dir="ltr" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://en.wikipedia.org/w/index.php?title%3DMonetarism%26oldid%3D1258740609">https://en.wikipedia.org/w/index.php?title=Monetarism&oldid=1258740609</a>" </div> </div> </div> <div class="post-content" id="page-secondary-actions"> </div> </main> <footer class="mw-footer minerva-footer" role="contentinfo"><a class="last-modified-bar" href="https://en-m-wikipedia-org.translate.goog/w/index.php?title=Monetarism&action=history&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB"> <div class="post-content last-modified-bar__content"><span class="minerva-icon minerva-icon-size-medium minerva-icon--modified-history"></span> <span class="last-modified-bar__text modified-enhancement" data-user-name="Dajasj" data-user-gender="unknown" data-timestamp="1732184340"> <span>Last edited on 21 November 2024, at 10:19</span> </span> <span class="minerva-icon minerva-icon-size-small minerva-icon--expand"></span> </div></a> <div class="post-content footer-content"> <div id="mw-data-after-content"> <div class="read-more-container"></div> </div> <div id="p-lang"> <h4>Languages</h4> <section> <ul id="p-variants" class="minerva-languages"></ul> <ul class="minerva-languages"> <li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://ar.wikipedia.org/wiki/%25D8%25A7%25D9%2584%25D9%2585%25D8%25AF%25D8%25B1%25D8%25B3%25D8%25A9_%25D8%25A7%25D9%2584%25D9%2586%25D9%2582%25D8%25AF%25D9%258A%25D8%25A9" title="المدرسة النقدية – Arabic" lang="ar" hreflang="ar" data-title="المدرسة النقدية" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li> <li class="interlanguage-link interwiki-az mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://az.wikipedia.org/wiki/Monetarizm" title="Monetarizm – Azerbaijani" lang="az" hreflang="az" data-title="Monetarizm" data-language-autonym="Azərbaycanca" data-language-local-name="Azerbaijani" class="interlanguage-link-target"><span>Azərbaycanca</span></a></li> <li class="interlanguage-link interwiki-be mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://be.wikipedia.org/wiki/%25D0%259C%25D0%25B0%25D0%25BD%25D0%25B5%25D1%2582%25D0%25B0%25D1%2580%25D1%258B%25D0%25B7%25D0%25BC" title="Манетарызм – Belarusian" lang="be" hreflang="be" data-title="Манетарызм" data-language-autonym="Беларуская" data-language-local-name="Belarusian" class="interlanguage-link-target"><span>Беларуская</span></a></li> <li class="interlanguage-link interwiki-bg mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://bg.wikipedia.org/wiki/%25D0%259C%25D0%25BE%25D0%25BD%25D0%25B5%25D1%2582%25D0%25B0%25D1%2580%25D0%25B8%25D0%25B7%25D1%258A%25D0%25BC" title="Монетаризъм – Bulgarian" lang="bg" hreflang="bg" data-title="Монетаризъм" data-language-autonym="Български" data-language-local-name="Bulgarian" class="interlanguage-link-target"><span>Български</span></a></li> <li class="interlanguage-link interwiki-ca mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://ca.wikipedia.org/wiki/Monetarisme" title="Monetarisme – Catalan" lang="ca" hreflang="ca" data-title="Monetarisme" data-language-autonym="Català" data-language-local-name="Catalan" class="interlanguage-link-target"><span>Català</span></a></li> <li class="interlanguage-link interwiki-cs mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://cs.wikipedia.org/wiki/Monetarismus" title="Monetarismus – Czech" lang="cs" hreflang="cs" data-title="Monetarismus" data-language-autonym="Čeština" data-language-local-name="Czech" class="interlanguage-link-target"><span>Čeština</span></a></li> <li class="interlanguage-link interwiki-cy mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://cy.wikipedia.org/wiki/Arianyddiaeth" title="Arianyddiaeth – Welsh" lang="cy" hreflang="cy" data-title="Arianyddiaeth" data-language-autonym="Cymraeg" data-language-local-name="Welsh" class="interlanguage-link-target"><span>Cymraeg</span></a></li> <li class="interlanguage-link interwiki-da mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://da.wikipedia.org/wiki/Monetarisme" title="Monetarisme – Danish" lang="da" hreflang="da" data-title="Monetarisme" data-language-autonym="Dansk" data-language-local-name="Danish" class="interlanguage-link-target"><span>Dansk</span></a></li> <li class="interlanguage-link interwiki-de mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://de.wikipedia.org/wiki/Monetarismus" title="Monetarismus – German" lang="de" hreflang="de" data-title="Monetarismus" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li> <li class="interlanguage-link interwiki-et mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://et.wikipedia.org/wiki/Monetarism" title="Monetarism – Estonian" lang="et" hreflang="et" data-title="Monetarism" data-language-autonym="Eesti" data-language-local-name="Estonian" class="interlanguage-link-target"><span>Eesti</span></a></li> <li class="interlanguage-link interwiki-el mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://el.wikipedia.org/wiki/%25CE%259C%25CE%25BF%25CE%25BD%25CE%25B5%25CF%2584%25CE%25B1%25CF%2581%25CE%25B9%25CF%2583%25CE%25BC%25CF%258C%25CF%2582" title="Μονεταρισμός – Greek" lang="el" hreflang="el" data-title="Μονεταρισμός" data-language-autonym="Ελληνικά" data-language-local-name="Greek" class="interlanguage-link-target"><span>Ελληνικά</span></a></li> <li class="interlanguage-link interwiki-es mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://es.wikipedia.org/wiki/Monetarismo" title="Monetarismo – Spanish" lang="es" hreflang="es" data-title="Monetarismo" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li> <li class="interlanguage-link interwiki-eo mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://eo.wikipedia.org/wiki/Kvanta_teorio_de_mono" title="Kvanta teorio de mono – Esperanto" lang="eo" hreflang="eo" data-title="Kvanta teorio de mono" data-language-autonym="Esperanto" data-language-local-name="Esperanto" class="interlanguage-link-target"><span>Esperanto</span></a></li> <li class="interlanguage-link interwiki-eu mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://eu.wikipedia.org/wiki/Monetarismo" title="Monetarismo – Basque" lang="eu" hreflang="eu" data-title="Monetarismo" data-language-autonym="Euskara" data-language-local-name="Basque" class="interlanguage-link-target"><span>Euskara</span></a></li> <li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://fa.wikipedia.org/wiki/%25D9%25BE%25D9%2588%25D9%2584%25E2%2580%258C%25DA%25AF%25D8%25B1%25D8%25A7%25DB%258C%25DB%258C" title="پول‌گرایی – Persian" lang="fa" hreflang="fa" data-title="پول‌گرایی" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target"><span>فارسی</span></a></li> <li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://fr.wikipedia.org/wiki/Mon%25C3%25A9tarisme" title="Monétarisme – French" lang="fr" hreflang="fr" data-title="Monétarisme" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li> <li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://ko.wikipedia.org/wiki/%25ED%2586%25B5%25ED%2599%2594%25EC%25A3%25BC%25EC%259D%2598" title="통화주의 – Korean" lang="ko" hreflang="ko" data-title="통화주의" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li> <li class="interlanguage-link interwiki-hy mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://hy.wikipedia.org/wiki/%25D5%2584%25D5%25B8%25D5%25B6%25D5%25A5%25D5%25BF%25D5%25A1%25D6%2580%25D5%25AB%25D5%25A6%25D5%25B4" title="Մոնետարիզմ – Armenian" lang="hy" hreflang="hy" data-title="Մոնետարիզմ" data-language-autonym="Հայերեն" data-language-local-name="Armenian" class="interlanguage-link-target"><span>Հայերեն</span></a></li> <li class="interlanguage-link interwiki-id mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://id.wikipedia.org/wiki/Monetarisme" title="Monetarisme – Indonesian" lang="id" hreflang="id" data-title="Monetarisme" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target"><span>Bahasa Indonesia</span></a></li> <li class="interlanguage-link interwiki-it mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://it.wikipedia.org/wiki/Monetarismo" title="Monetarismo – Italian" lang="it" hreflang="it" data-title="Monetarismo" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li> <li class="interlanguage-link interwiki-he mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://he.wikipedia.org/wiki/%25D7%259E%25D7%2595%25D7%25A0%25D7%2599%25D7%2598%25D7%25A8%25D7%2599%25D7%2596%25D7%259D" title="מוניטריזם – Hebrew" lang="he" hreflang="he" data-title="מוניטריזם" data-language-autonym="עברית" data-language-local-name="Hebrew" class="interlanguage-link-target"><span>עברית</span></a></li> <li class="interlanguage-link interwiki-kk mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://kk.wikipedia.org/wiki/%25D0%259C%25D3%2599%25D0%25BD%25D0%25B5%25D1%2582%25D1%2588%25D1%2596%25D0%25BB%25D0%25B4%25D1%2596%25D0%25BA" title="Мәнетшілдік – Kazakh" lang="kk" hreflang="kk" data-title="Мәнетшілдік" data-language-autonym="Қазақша" data-language-local-name="Kazakh" class="interlanguage-link-target"><span>Қазақша</span></a></li> <li class="interlanguage-link interwiki-ky mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://ky.wikipedia.org/wiki/%25D0%259C%25D0%25BE%25D0%25BD%25D0%25B5%25D1%2582%25D0%25B0%25D1%2580%25D0%25B8%25D0%25B7%25D0%25BC" title="Монетаризм – Kyrgyz" lang="ky" hreflang="ky" data-title="Монетаризм" data-language-autonym="Кыргызча" data-language-local-name="Kyrgyz" class="interlanguage-link-target"><span>Кыргызча</span></a></li> <li class="interlanguage-link interwiki-lv mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://lv.wikipedia.org/wiki/Monet%25C4%2581risms" title="Monetārisms – Latvian" lang="lv" hreflang="lv" data-title="Monetārisms" data-language-autonym="Latviešu" data-language-local-name="Latvian" class="interlanguage-link-target"><span>Latviešu</span></a></li> <li class="interlanguage-link interwiki-lt mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://lt.wikipedia.org/wiki/Monetarizmas" title="Monetarizmas – Lithuanian" lang="lt" hreflang="lt" data-title="Monetarizmas" data-language-autonym="Lietuvių" data-language-local-name="Lithuanian" class="interlanguage-link-target"><span>Lietuvių</span></a></li> <li class="interlanguage-link interwiki-lmo mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://lmo.wikipedia.org/wiki/Monetarism" title="Monetarism – Lombard" lang="lmo" hreflang="lmo" data-title="Monetarism" data-language-autonym="Lombard" data-language-local-name="Lombard" class="interlanguage-link-target"><span>Lombard</span></a></li> <li class="interlanguage-link interwiki-mk mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://mk.wikipedia.org/wiki/%25D0%259C%25D0%25BE%25D0%25BD%25D0%25B5%25D1%2582%25D0%25B0%25D1%2580%25D0%25B8%25D0%25B7%25D0%25B0%25D0%25BC" title="Монетаризам – Macedonian" lang="mk" hreflang="mk" data-title="Монетаризам" data-language-autonym="Македонски" data-language-local-name="Macedonian" class="interlanguage-link-target"><span>Македонски</span></a></li> <li class="interlanguage-link interwiki-mn mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://mn.wikipedia.org/wiki/%25D0%259C%25D0%25BE%25D0%25BD%25D0%25B5%25D1%2582%25D0%25B0%25D1%2580%25D0%25B8%25D0%25B7%25D0%25BC" title="Монетаризм – Mongolian" lang="mn" hreflang="mn" data-title="Монетаризм" data-language-autonym="Монгол" data-language-local-name="Mongolian" class="interlanguage-link-target"><span>Монгол</span></a></li> <li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://nl.wikipedia.org/wiki/Monetarisme" title="Monetarisme – Dutch" lang="nl" hreflang="nl" data-title="Monetarisme" data-language-autonym="Nederlands" data-language-local-name="Dutch" class="interlanguage-link-target"><span>Nederlands</span></a></li> <li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://ja.wikipedia.org/wiki/%25E3%2583%259E%25E3%2583%258D%25E3%2582%25BF%25E3%2583%25AA%25E3%2582%25B9%25E3%2583%2588" title="マネタリスト – Japanese" lang="ja" hreflang="ja" data-title="マネタリスト" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li> <li class="interlanguage-link interwiki-no mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://no.wikipedia.org/wiki/Monetarisme" title="Monetarisme – Norwegian Bokmål" lang="nb" hreflang="nb" data-title="Monetarisme" data-language-autonym="Norsk bokmål" data-language-local-name="Norwegian Bokmål" class="interlanguage-link-target"><span>Norsk bokmål</span></a></li> <li class="interlanguage-link interwiki-uz mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://uz.wikipedia.org/wiki/Monetarizm" title="Monetarizm – Uzbek" lang="uz" hreflang="uz" data-title="Monetarizm" data-language-autonym="Oʻzbekcha / ўзбекча" data-language-local-name="Uzbek" class="interlanguage-link-target"><span>Oʻzbekcha / ўзбекча</span></a></li> <li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://pl.wikipedia.org/wiki/Monetaryzm" title="Monetaryzm – Polish" lang="pl" hreflang="pl" data-title="Monetaryzm" data-language-autonym="Polski" data-language-local-name="Polish" class="interlanguage-link-target"><span>Polski</span></a></li> <li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://pt.wikipedia.org/wiki/Monetarismo" title="Monetarismo – Portuguese" lang="pt" hreflang="pt" data-title="Monetarismo" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target"><span>Português</span></a></li> <li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://ru.wikipedia.org/wiki/%25D0%259C%25D0%25BE%25D0%25BD%25D0%25B5%25D1%2582%25D0%25B0%25D1%2580%25D0%25B8%25D0%25B7%25D0%25BC" title="Монетаризм – Russian" lang="ru" hreflang="ru" data-title="Монетаризм" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li> <li class="interlanguage-link interwiki-simple mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://simple.wikipedia.org/wiki/Monetarism" title="Monetarism – Simple English" lang="en-simple" hreflang="en-simple" data-title="Monetarism" data-language-autonym="Simple English" data-language-local-name="Simple English" class="interlanguage-link-target"><span>Simple English</span></a></li> <li class="interlanguage-link interwiki-sk mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://sk.wikipedia.org/wiki/Monetarizmus" title="Monetarizmus – Slovak" lang="sk" hreflang="sk" data-title="Monetarizmus" data-language-autonym="Slovenčina" data-language-local-name="Slovak" class="interlanguage-link-target"><span>Slovenčina</span></a></li> <li class="interlanguage-link interwiki-sl mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://sl.wikipedia.org/wiki/Monetarizem" title="Monetarizem – Slovenian" lang="sl" hreflang="sl" data-title="Monetarizem" data-language-autonym="Slovenščina" data-language-local-name="Slovenian" class="interlanguage-link-target"><span>Slovenščina</span></a></li> <li class="interlanguage-link interwiki-sr mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://sr.wikipedia.org/wiki/%25D0%259C%25D0%25BE%25D0%25BD%25D0%25B5%25D1%2582%25D0%25B0%25D1%2580%25D0%25B8%25D1%2581%25D1%2582%25D0%25B8%25D1%2587%25D0%25BA%25D0%25B0_%25D1%2582%25D0%25B5%25D0%25BE%25D1%2580%25D0%25B8%25D1%2598%25D0%25B0" title="Монетаристичка теорија – Serbian" lang="sr" hreflang="sr" data-title="Монетаристичка теорија" data-language-autonym="Српски / srpski" data-language-local-name="Serbian" class="interlanguage-link-target"><span>Српски / srpski</span></a></li> <li class="interlanguage-link interwiki-sh mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://sh.wikipedia.org/wiki/Monetaristi%25C4%258Dka_teorija" title="Monetaristička teorija – Serbo-Croatian" lang="sh" hreflang="sh" data-title="Monetaristička teorija" data-language-autonym="Srpskohrvatski / српскохрватски" data-language-local-name="Serbo-Croatian" class="interlanguage-link-target"><span>Srpskohrvatski / српскохрватски</span></a></li> <li class="interlanguage-link interwiki-fi mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://fi.wikipedia.org/wiki/Monetaristinen_taloustiede" title="Monetaristinen taloustiede – Finnish" lang="fi" hreflang="fi" data-title="Monetaristinen taloustiede" data-language-autonym="Suomi" data-language-local-name="Finnish" class="interlanguage-link-target"><span>Suomi</span></a></li> <li class="interlanguage-link interwiki-sv mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://sv.wikipedia.org/wiki/Monetarism" title="Monetarism – Swedish" lang="sv" hreflang="sv" data-title="Monetarism" data-language-autonym="Svenska" data-language-local-name="Swedish" class="interlanguage-link-target"><span>Svenska</span></a></li> <li class="interlanguage-link interwiki-tr mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://tr.wikipedia.org/wiki/Parasalc%25C4%25B1l%25C4%25B1k" title="Parasalcılık – Turkish" lang="tr" hreflang="tr" data-title="Parasalcılık" data-language-autonym="Türkçe" data-language-local-name="Turkish" class="interlanguage-link-target"><span>Türkçe</span></a></li> <li class="interlanguage-link interwiki-uk mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://uk.wikipedia.org/wiki/%25D0%259C%25D0%25BE%25D0%25BD%25D0%25B5%25D1%2582%25D0%25B0%25D1%2580%25D0%25B8%25D0%25B7%25D0%25BC" title="Монетаризм – Ukrainian" lang="uk" hreflang="uk" data-title="Монетаризм" data-language-autonym="Українська" data-language-local-name="Ukrainian" class="interlanguage-link-target"><span>Українська</span></a></li> <li class="interlanguage-link interwiki-vi mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://vi.wikipedia.org/wiki/Ch%25E1%25BB%25A7_ngh%25C4%25A9a_ti%25E1%25BB%2581n_t%25E1%25BB%2587" title="Chủ nghĩa tiền tệ – Vietnamese" lang="vi" hreflang="vi" data-title="Chủ nghĩa tiền tệ" data-language-autonym="Tiếng Việt" data-language-local-name="Vietnamese" class="interlanguage-link-target"><span>Tiếng Việt</span></a></li> <li class="interlanguage-link interwiki-wuu mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://wuu.wikipedia.org/wiki/%25E8%25B4%25A7%25E5%25B8%2581%25E4%25B8%25BB%25E4%25B9%2589" title="货币主义 – Wu" lang="wuu" hreflang="wuu" data-title="货币主义" data-language-autonym="吴语" data-language-local-name="Wu" class="interlanguage-link-target"><span>吴语</span></a></li> <li class="interlanguage-link interwiki-zh-yue mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://zh-yue.wikipedia.org/wiki/%25E8%25B2%25A8%25E5%25B9%25A3%25E4%25B8%25BB%25E7%25BE%25A9" title="貨幣主義 – Cantonese" lang="yue" hreflang="yue" data-title="貨幣主義" data-language-autonym="粵語" data-language-local-name="Cantonese" class="interlanguage-link-target"><span>粵語</span></a></li> <li class="interlanguage-link interwiki-zh mw-list-item"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://zh.wikipedia.org/wiki/%25E8%25B4%25A7%25E5%25B8%2581%25E4%25B8%25BB%25E4%25B9%2589" title="货币主义 – Chinese" lang="zh" hreflang="zh" data-title="货币主义" data-language-autonym="中文" data-language-local-name="Chinese" class="interlanguage-link-target"><span>中文</span></a></li> </ul> </section> </div> <div class="minerva-footer-logo"> <img src="/static/images/mobile/copyright/wikipedia-wordmark-en.svg" alt="Wikipedia" width="120" height="18" style="width: 7.5em; height: 1.125em;"> </div> <ul id="footer-info" class="footer-info hlist hlist-separated"> <li id="footer-info-lastmod">This page was last edited on 21 November 2024, at 10:19<span class="anonymous-show"> (UTC)</span>.</li> <li id="footer-info-copyright">Content is available under <a class="external" rel="nofollow" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://creativecommons.org/licenses/by-sa/4.0/deed.en">CC BY-SA 4.0</a> unless otherwise noted.</li> </ul> <ul id="footer-places" class="footer-places hlist hlist-separated"> <li id="footer-places-privacy"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://foundation.wikimedia.org/wiki/Special:MyLanguage/Policy:Privacy_policy">Privacy policy</a></li> <li id="footer-places-about"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Wikipedia:About?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB">About Wikipedia</a></li> <li id="footer-places-disclaimers"><a href="https://en-m-wikipedia-org.translate.goog/wiki/Wikipedia:General_disclaimer?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-GB">Disclaimers</a></li> <li id="footer-places-contact"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://en.wikipedia.org/wiki/Wikipedia:Contact_us">Contact Wikipedia</a></li> <li id="footer-places-wm-codeofconduct"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://foundation.wikimedia.org/wiki/Special:MyLanguage/Policy:Universal_Code_of_Conduct">Code of Conduct</a></li> <li id="footer-places-developers"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://developer.wikimedia.org">Developers</a></li> <li id="footer-places-statslink"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://stats.wikimedia.org/%23/en.wikipedia.org">Statistics</a></li> <li id="footer-places-cookiestatement"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://foundation.wikimedia.org/wiki/Special:MyLanguage/Policy:Cookie_statement">Cookie statement</a></li> <li id="footer-places-terms-use"><a href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://foundation.m.wikimedia.org/wiki/Special:MyLanguage/Policy:Terms_of_Use">Terms of Use</a></li> <li id="footer-places-desktop-toggle"><a id="mw-mf-display-toggle" href="https://translate.google.com/website?sl=auto&tl=en&hl=en-GB&u=https://en.wikipedia.org/w/index.php?title%3DMonetarism%26mobileaction%3Dtoggle_view_desktop" data-event-name="switch_to_desktop">Desktop</a></li> </ul> </div> </footer> </div> </div> <div class="mw-notification-area" data-mw="interface"></div> <script>(RLQ=window.RLQ||[]).push(function(){mw.config.set({"wgHostname":"mw-web.codfw.main-f69cdc8f6-mlwhb","wgBackendResponseTime":153,"wgPageParseReport":{"limitreport":{"cputime":"1.201","walltime":"1.427","ppvisitednodes":{"value":4120,"limit":1000000},"postexpandincludesize":{"value":211844,"limit":2097152},"templateargumentsize":{"value":2795,"limit":2097152},"expansiondepth":{"value":16,"limit":100},"expensivefunctioncount":{"value":9,"limit":500},"unstrip-depth":{"value":1,"limit":20},"unstrip-size":{"value":141146,"limit":5000000},"entityaccesscount":{"value":1,"limit":400},"timingprofile":["100.00% 1160.324 1 -total"," 47.95% 556.425 8 Template:Navbox"," 33.19% 385.120 10 Template:Excerpt"," 26.49% 307.331 1 Template:Macroeconomics"," 17.20% 199.571 1 Template:Reflist"," 13.10% 151.990 1 Template:Economics"," 12.32% 143.008 2 Template:Sidebar_with_collapsible_lists"," 11.63% 134.971 8 Template:Cite_book"," 11.14% 129.224 1 Template:Macroeconomics_sidebar"," 7.91% 91.764 1 Template:Short_description"]},"scribunto":{"limitreport-timeusage":{"value":"0.801","limit":"10.000"},"limitreport-memusage":{"value":7893006,"limit":52428800},"limitreport-logs":"table#1 {\n [\"size\"] = \"tiny\",\n}\ntable#1 {\n [\"size\"] = \"tiny\",\n}\ntable#1 {\n [\"size\"] = \"tiny\",\n}\ntable#1 {\n [\"size\"] = \"tiny\",\n}\n"},"cachereport":{"origin":"mw-web.codfw.main-f69cdc8f6-7j489","timestamp":"20241122140417","ttl":2592000,"transientcontent":false}}});});</script> <script type="application/ld+json">{"@context":"https:\/\/schema.org","@type":"Article","name":"Monetarism","url":"https:\/\/en.wikipedia.org\/wiki\/Monetarism","sameAs":"http:\/\/www.wikidata.org\/entity\/Q373177","mainEntity":"http:\/\/www.wikidata.org\/entity\/Q373177","author":{"@type":"Organization","name":"Contributors to Wikimedia projects"},"publisher":{"@type":"Organization","name":"Wikimedia Foundation, Inc.","logo":{"@type":"ImageObject","url":"https:\/\/www.wikimedia.org\/static\/images\/wmf-hor-googpub.png"}},"datePublished":"2002-03-02T04:38:37Z","dateModified":"2024-11-21T10:19:00Z","image":"https:\/\/upload.wikimedia.org\/wikipedia\/commons\/4\/40\/CPI_1914-2022.webp","headline":"school of thought in monetary economics"}</script> <script>(window.NORLQ=window.NORLQ||[]).push(function(){var ns,i,p,img;ns=document.getElementsByTagName('noscript');for(i=0;i<ns.length;i++){p=ns[i].nextSibling;if(p&&p.className&&p.className.indexOf('lazy-image-placeholder')>-1){img=document.createElement('img');img.setAttribute('src',p.getAttribute('data-src'));img.setAttribute('width',p.getAttribute('data-width'));img.setAttribute('height',p.getAttribute('data-height'));img.setAttribute('alt',p.getAttribute('data-alt'));p.parentNode.replaceChild(img,p);}}});</script> <script>function gtElInit() {var lib = new google.translate.TranslateService();lib.translatePage('en', 'en', function () {});}</script> <script src="https://translate.google.com/translate_a/element.js?cb=gtElInit&hl=en-GB&client=wt" type="text/javascript"></script> </body> </html>