A Monetarist View |
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Authors: | Milton Friedman |
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Affiliation: | Hoover Institute |
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Abstract: | Friedman examines the quantity theory of money and the recent application of monetary policy in Japan, the United Kingdom, and the United States. In all three countries, the reduction of monetary growth has reduced inflation. In the United States, in 1983, the renewed expansion of the money supply raises the distinct possibility that inflation will resume in 1984 or 1985, according to the author. |
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