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Journal of Economic Studies, 1977
We have in recent years witnessed a spectacular revival of a doctrine which most economists had presumed to be dead, buried and thoroughly discredited. This is a doctrine which came to be known as the Treasury View. In brief the Treasury View stated that all attempts to stimulate employment by means of bond‐financed budget deficits (what Keynes called “
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We have in recent years witnessed a spectacular revival of a doctrine which most economists had presumed to be dead, buried and thoroughly discredited. This is a doctrine which came to be known as the Treasury View. In brief the Treasury View stated that all attempts to stimulate employment by means of bond‐financed budget deficits (what Keynes called “
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Monetarism II: Monetarism, Keynes and the ‘Keynesians’
1987Though the real challenge to Keynes lay in the ‘invisible’ elements of Friedman’s counter-revolution, the subsequent monetarist — ‘Keynesian’ debate has been conducted entirely in terms of the ‘visible’ elements, which are alternative formulations of empirical relationships that have their counterpart in the ‘Keynesian’ model.
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Monetarism and Economic Theory
Economica, 1980In this paper I want to examine the theoretical foundations of "monetarism". At the outset there is a difficulty. Professor Stein writes: "Monetarists are policy oriented. Their major propositions are a series of empirical observations. . . rather than a theory in direct opposition to neo-Keynesian analysis" (Stein, 1976). And Professor Friedman writes,
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Monetarism: The issues and the outcome
Atlantic Economic Journal, 1998The paper surveys some main issues in the monetarist-Keynesian debate of the 1960s and 1970s and the outcome of the debate. The debate was not static; the issues changed. At first Keynesians argued that money was largely irrelevant for output and the price level.
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The Monetarization of Medical Care
New England Journal of Medicine, 1984CLOSE observers of the health-care system, among them Arnold Relman1 2 3 and David Rogers,4 are alarmed at how fast American medicine appears to be turning from a profession into a business. The evidence of history and economics suggests that a related and more pervasive trend, the monetarization of medical care, has been proceeding apace for the past ...
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Robertson, Money, and Monetarism
1992Of the great economists of the twentieth century, there is, perhaps, none whose work is now more neglected than Dennis Robertson. This neglect might be understandable — though not, from a scholarly standpoint, justifiable — if Robertson had been concerned only with topics that are no longer of interest to economists; but this, of course, was not the ...
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Monetarism, Bondism, and Inflation
Journal of Money, Credit and Banking, 1982INFLATION HAS BEEN IDENTIFIED as Public Enemy No. 1." Many who hold this view attribute inflation to the Federal Reserve's willingness to finance government deficits with newly printed money. It is argued that inflation would end if only the Federal Reserve would instead commit itself to increasing the money supply at a constant rate, equal to the long-
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Industrial Management, 1979
Denis Healey once said that he would squeeze the rich until the pips squeaked.Now, in the different context of Tory economic policy and its effect on jobs and industrial investment, Stanley Alderson argues that the monetary curbs have put Britain on a disaster course.
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Denis Healey once said that he would squeeze the rich until the pips squeaked.Now, in the different context of Tory economic policy and its effect on jobs and industrial investment, Stanley Alderson argues that the monetary curbs have put Britain on a disaster course.
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