Friedman's model is now considered false, or at least only very conditional. It fits only certain economies. Is Inflation Always and Everywhere a Monetary Phen

Friedman's model is now considered false, or at least only very conditional. It fits only certain economies. Is Inflation Always and Everywhere a Monetary Phenomenon? https://www.jstor.org/stable/3441104 https://www.jstor.org/stable/3441104 >The relation between long-run inflation and the money growth rate is not proportional. The strong link between inflation and money growth is almost wholly due to the presence of high- (or hyper-) inflation countries in the sample. The relationship between inflation and money growth for low-inflation countries (on average less than 10% per annum over the last 30 years) is weak.