Sharp public debates about money, banking and the business cycle have been a feature of the leading industrial nations for over 200 years. One debate – that between Keynesianism and monetarism – has good claims to be the most protracted and intense of all. It started quietly in the USA in the late 1950s, with the publication of influential academic papers arguing that the quantity of money played an important role in the determination of national income.
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Autor: Tim Congdon



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