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> This view is known as (or extremely closely aligned with) Monetarism, originally championed by Friedman. And even Friedman recanted this view in an interview
by throw0101c 3y ago
> This view is known as (or extremely closely aligned with) Monetarism, originally championed by Friedman.
And even Friedman recanted this view in an interview: (Financial Times (UK), June 7, 2003):
> The use of quantity of money as a target has not been a success. I'm not sure that I would as of today push it as hard as I once did.
During the 1980s, the heyday of right-leaning economic thought, not even Reagan and Thatcher (or Volcker) bothered with money supply during in the high-inflation days: see the book Samuelson Friedman: the battle over the free market by Wapshott for a good history.