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What Is Monetarism?
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Monetarism is a macroeconomic theory that emphasizes the importance of money — specifically, the supply of money — in determining a nation’s economic health.
The central claim?
“Inflation is always and everywhere a monetary phenomenon.”
That’s economist Milton Friedman, the intellectual father of Monetarism.
Friedman argued that when a central bank increases the money supply faster than the economy grows, inflation is inevitable. Too much money chasing too few goods — prices rise. Simple as that.
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