“Monetarism” Is Confirmation That Economists Never Got The Joke
Key takeaways
- Policy“Monetarism” Is Confirmation That Economists Never Got The Joke By John Tamny,
- Economist Milton Friedman Reading (Photo by Roger Ressmeyer/Corbis/VCG via Getty Images)Corbis/VCG via Getty Images There’s a George Will column somewhere that says if you want to make God laugh, tell him your plans.
- Those on the “free market” side of the economist aisle still cling to the surely comical notion that they can and should plan money.
Policy“Monetarism” Is Confirmation That Economists Never Got The Joke By John Tamny,
Economist Milton Friedman Reading (Photo by Roger Ressmeyer/Corbis/VCG via Getty Images)Corbis/VCG via Getty Images There’s a George Will column somewhere that says if you want to make God laugh, tell him your plans. Economists seemingly never got the joke.
Those on the “free market” side of the economist aisle still cling to the surely comical notion that they can and should plan money. They call themselves “monetarists,” and they claim that non-inflationary growth will be the reward if central banks stick to their pre-set money growth targets. Naaah. No house, street, town, city, state, or country ever needs to worry about how much or how little money is circulating.