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Milton Friedman And The Rise Term Paper

This led to the rise in monetarism and the tax cuts promoted by President Reagan, the fiscal conservatism of the Volker-Greenspan Federal Reserve System, and the economic prosperity of the 1980s and 1990s (Ross, 1998). Currently, monetarism and the importance of monetary policy in determining economic growth and stability are widely accepted. However, it is important to note that Friedman himself has cautioned against assigning to monetary policy a larger role than it can actually perform (Friedman (a), p. 99). While admittedly, changes in money supply can affect employment and output in the short run, Friedman advised against an over reliance on the supply of money as a mechanism to stimulate investment, employment and demand to avoid unacceptable levels of inflation. Instead, he advocates, that these economic objectives are better achieved through...

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"Milton Friedman - Theories." Accessed April 26, 2005:
http://bized.ac.uk/virtual/economy/library/economists/friedmanth.htm

Friedman, M. A Program for Monetary Stability. New York: Fordham University Press,

Friedman, M. "The Role of Monetary Policy." The Optimum Quantity of Money and Other Essays. University of Chicago: Aldine Publishing Company, 1976.

Ross, K. "Money, Value, and Monetary History after Friedman." 1998. The Idea

Channel. Accessed April 26, 2005: http://www.friesian.com/money.htm#text-10

Warsh, D. "Milton Friedman's Surprising Secret." The Boston Globe. May 17, 1992.

Accessed April 26, 2005: http://www.boston.com/globe/search/stories/nobel/1992/1992n.html

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Biz/ed. "Milton Friedman - Theories." Accessed April 26, 2005:

http://bized.ac.uk/virtual/economy/library/economists/friedmanth.htm

Friedman, M. A Program for Monetary Stability. New York: Fordham University Press,

Friedman, M. "The Role of Monetary Policy." The Optimum Quantity of Money and Other Essays. University of Chicago: Aldine Publishing Company, 1976.
Channel. Accessed April 26, 2005: http://www.friesian.com/money.htm#text-10
Accessed April 26, 2005: http://www.boston.com/globe/search/stories/nobel/1992/1992n.html
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