The Rise And Fall Of Monetary Policy - Ian Macfarlane
The Joe Walker Podcast
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Milton Friedman's Famous Phrase: Inflation Is Always and Everywhere a Monetary Phenomenon
Milton Friedman's famous phrase was that inflation is always and everywhere a monetary phenomenon. The basis of it was this thing called the quantity theory of money, which said essentially money supply went up by X, then inflation would go up by X. Well, it turns out that that relationship is extremely loose and hasn't been used for a long time as an effective way to conduct monetary policy.
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