No single approach will fit all conditions; the maths is crucial Nov 9, 2009
Nedbank group chief economist Dennis Dykes points out that if money supply had been targeted as monetarists prescribe, the credit bubble in the US would not have reached disastrous proportions. Both interventionist and non-interventionist approaches have worked in certain circumstances and have failed to work in others. (Business Report, South Africa)
Bernankeism - the artof spreading starvation Nov 5, 2009
Early monetarists, called the Currency School, noted that a central bank should not attempt to manage the economy and should limit its role to managing the money supply and safety of banks. Financial crises of early banking systems in 18th and 19th centuries were attributed to easy credit and excessive money printing. (Asia Times Online)
Recession: Are we out of the woods? Oct 9, 2009
It is interesting to note that the strict monetarists have already started bemoaning the increasing fiscal deficits in countries. This needs some consideration. (India Times)
Economics is a poor predictor Sep 13, 2009
Within this group, some are more fiscally inclined and others are noted monetarists. Then there s the markets crowd, which believes that the managed folks should just set their operations on automatic pilot and leave the rest to the people. (Atlanta Journal-Constitution -- Business)
It'stime to revampthe Federal Reserve Jul 25, 2009
Quantity theory monetarists were proponents of money legislation and control of money and credit. Following financial crises and suspension of convertibility by the Bank of England in 1797, David Ricardo called for strict central banking legislation that would restrain central bank ability to create costless paper money. (Asia Times Online)
Monetary folly oils oil gains May 28, 2009
A long time ago, monetarists asserted that central banks cannot control employment, nor can they control interest rates. A central bank can only control money supply, credit and the banking system with precision. (Asia Times Online)
* Forget the Great Depression: There really arent easy answers May 8, 2009
Monetarists tell an alternative but parallel story of how stable monetary growth avoids radical perturbations. The 1929 crash had no obvious cause, but two very plausible solutions. (Taipei Times, Taiwan -- World)
The burden of elitism May 6, 2009
Ironically, asset appreciation is viewed by monetarists as growth and not inflation ... As a result, monetarists subscribe to stabilization of the nominal money supply rather than total aggregate nominal demand. (Asia Times Online)
Yglesias: That Marx Guy Was Onto Something May 5, 2009
Everyone, from followers of John Maynard Keynes to Milton Friedman's monetarists to the "Austrian School" of extreme libertarians agrees that periodic episodes of crisis are endemic to the system. This is not to take anything away from Marx, who got to the point quickly. (Slate)
U.S. prices dip, but deflation fears subside Apr 16, 2009
The monetarists, who believe that printing money automatically leads to higher prices, must be wondering why there was no surge in inflation when the Federal Reserve first began heavily pumping up the money supply last fall, he said. "We should have had a substantial burst of inflation at the end of 2008. That didn't happen because the economy was so depressed and there was essentially no spending.". (Globe and Mail -- Business)
All this torpor's driving me backwards Apr 11, 2009
Not even the arrival of the Mullumbimby Monetarists - all 20 of them - dressed in rags the colour of dawn, smelling of bush herbs, animated us ... We hoped to take the Monetarists out for lunch, but our club wouldn't admit them. (Sydney Morning Herald -- Business)
* We need yesterdays heroes Mar 5, 2009
X there were others, including neo-liberal and monetarists, who believed they knew the answers. But the present world economic crisis has come as a shock. (Taipei Times, Taiwan -- Sports)
Is Our Monetary-Fiscal Policy Mix Rightly Prioritized? Mar 3, 2009
The measure by the Central Bank to check inflation is appropriate in the light of this monetarists philosophy. But lets not forget that the Philips curve hypothesis (first propounded by William Philips and later augmented by Edmund Phelps) has unemployment as inflations trade-off. (Ghana Web, Ghana)
Wanted: A new economic theory Feb 8, 2009
Now that Prime Minister Kevin Rudd has hailed in his "Monthly' essay a new political era of ''social capitalism'' and embarked on another stimulus package it merely remains to find an economic theory to accompany it. Economics has failed manifestly to see the global financial crisis coming. Only those once derided as doomsayers and crackpots were anywhere near the mark. An entire generation of richly-remunerated experts got it wrong, once again. Even now there is a reluctance to accept that the... (Sydney Morning Herald -- Business)
