Mas, como opera a politica monetaria no modelo monetarista. Nacido en 1912 en nueva york, friedman estudio matematicas. Pdf milton friedman is best known as the founding father and leading exponent of the monetarist school of macroeconomic thought, and for. As exposited by milton friedman, monetarism incorporated two hypotheses. The economic theories of milton friedman have as much merit today as they did in the 1970s. Milton friedman was an american economist who received the 1976 nobel memorial prize in. What links here related changes upload file special pages permanent link page. Monetarism is an economic theory that says the money supply is the most important driver of economic growth. He completed his masters degree a year later at chicago university and gained his phd.
Friedman and schwartzs a monetary history of the united states, 18671960, published in 1963, stands as one of the most influential economics books of the twentieth century. Milton friedman, born july 31, 1912, brooklyn, new york, u. Formulated by milton friedman, it argues that excessive expansion of the money supply is inherently inflationary, and that monetary authorities should focus solely on maintaining price stability this theory draws its roots from two historically antagonistic. American economist milton friedman, who was the first to provide. He was awarded the nobel prize for economics in 1976. Friedman was the main proponent of the monetarist school of economics. Moore, 2009 milton friedman believed that great depression could have been avoided had the government injected sufficient liquidity into the economy. He believed in limited government intervention and that the main role of the government was to.
The second is that the price system works well in order to attenuate cyclical fluctuations provided the central bank follows a rule that creates a stable nominal anchor and that allows. Doutor em ciencias sociais ciencia politica e mestre em economia pela pontificia. Tambem sao apresentados os distanciamentos entre monetaristas e keynesianos. One is that the price level is a monetary phenomenon in that its behavior depends upon the institutions for controlling money creation.