monetaristinen

Monetaristinen refers to an economic school of thought that emphasizes the role of money supply in determining economic activity. This perspective was popularized in the 1970s and 1980s by economists such as Milton Friedman and his followers at the University of Chicago.

Monetaristinisteja (monetarists) argue that the money supply, rather than government aggregate demand policies or other factors, is the primary driver of economic growth and stability. They argue that the quantity of money in circulation, defined as M1 (which includes currency, money market funds, and other easily accessible liquid assets), is the key factor in determining nominal GDP.

Monetaristinen economic theory is based on the quantity theory of money, which posits that the value of money decreases as its supply increases. In other words, if the money supply grows too rapidly, it can lead to inflation. Monetarists also argue that the government should not intervene in the economy through monetary policy, but rather allow market forces to determine the interest rates.

One of the key concepts in monetarist theory is the concept of the natural rate of unemployment, which refers to the rate of unemployment that exists when the economy is at full employment. Monetarists argue that the government can use monetary policy to influence the economy, but only within a narrow range around the natural rate of unemployment.

Monetaristinen ideas have had a significant impact on economic policy, particularly in the United States, where they influenced the policy stance of the Federal Reserve during the 1980s. However, the monetarist school of thought has also faced criticism and challenges, particularly from Keynesian and Post-Keynesian economists who argue that money supply is not the only determinant of economic activity.