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Which of these does not describe Alfred Marshall?
monetarist
Which modern theorist's work in Monetarist thought earned him a Nobel Prize in economic science?
Milton Friedman's work in monetarist thought earned him a Nobel prize in economic sciences.
Which modern theorist's work in monetarist thought earned him a Nobel prize in economic sciences?
Milton Friedman's work in monetarist thought earned him a Nobel prize in economic sciences.
What policies would likely be favored by a monetarist?
A monetarists would favor a policy where the government had a limited role in the control of the circulation of money. They believe that the money supply should not be excessively expanded so it does not cause inflation.
What are five types of macroeconomics?
Classical Neo-classical Keynesian Austrian Monetarist That should get you started.
What causes a difference between desired spending and income in the monetarist model in the Keynesian model?
In the monetarist model, a difference between desired spending and income is caused by either an excess demand for money (MD > MS) or an excess supply of money (MS > MD). An excess demand for money reduces desired spending, and an excess supply increases it. In the Keynesian model, changes in desired spending (particularly in desired investment spending) cause the difference.
What has the author David E W Laidler written?
David E. W. Laidler has written: 'Monetarist perspectives' -- subject(s): Macroeconomics, Monetary policy 'Radcliffe and the quantity theory' 'Monetarism'
Which modern theorists work in monetarist thought earned him a novel prize in economic sciences?
Milton Friedman is the prominent modern theorist associated with monetarist thought who was awarded the Nobel Prize in Economic Sciences in 1976. His work emphasized the role of monetary policy in managing economic stability and argued against the Keynesian focus on fiscal policy. Friedman’s research on consumption analysis, money supply, and the importance of controlling inflation significantly shaped economic policy and theory.
Is the keynesian-monetarist debate over?
The Keynesian-monetarist debate is not definitively over, as economic thought continues to evolve and adapt to new challenges. While mainstream economics has integrated elements from both schools, differing views on the role of fiscal versus monetary policy persist, especially in response to crises like the 2008 financial meltdown and the COVID-19 pandemic. Ongoing discussions about inflation, unemployment, and economic growth illustrate that elements of the debate remain relevant in shaping policy responses today.
What has made Milton Friedman popular?
Milton Friedman was a leading and influential monetarist economist. He was said to have been a big influence on Margaret Thatcher's economic policies. Very broadly, he pointed out that limiting the supply of money keeps inflation low.
What has the author Peter G McGregor written?
Peter G. McGregor has written: 'Finance constraints, Keynes' Finance Motive for liquidity and monetary theory' 'An introduction to the Keynesian-Monetarist debate in an open-economy context' -- subject(s): Prices, Chicago school of economics, Wages, Keynesian economics
Do monetarists argue that the Natural rate of unemployment can be reduced by macroeconomic policies designed to stimulating aggregated demand?
They do, but inflation will result, the monetarist view of the natural rate is that it is the non accelerating inflation rate of unemployment (NAIRU) to move below this will result in high inflation and is therefore not worth the benefit of the reduced unemployment.
