Monetarists - IntroductionMonetarists are a group of economists so named because of their preoccupation with money and its effects. The most famous Monetarist is Milton Friedman who developed much of the Monetarist theory we learn. Monetarism is very closely allied with the classical school of thought. It is essentially an extension of classical theory which was developed in the 1960s and 1970s to try to explain a new economic phenomenon - stagflation Much of the Monetarists' work revolved around the role of expectations in determining inflation, and a key part of their theory was the development of the expectations-augmented Phillips Curve Intro | Beliefs | Theories | AS & AD | Policies | VE Policies |
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