Milton Friedman and the Monetarist Battle against Keynes (Essay Sample)
Writing Assignments. You will read Chapter 8 from New Ideas from Dead Economist.
1) What did you learn about economic concepts from this chapter?
2) How are these ideas are relevant to today’s economy?
Then your answer which should be 2 paragraphs or more.
P.S: You need to answer those 2 questions about chapter 8. Write answers to those questions with space between 2 paragraphs, so I can see where did you stop answering 1 question and where did you start with the second question. Thank you!
Milton Friedman and the Monetarist Battle against Keynes
In this chapter, I have learned a lot about monetarism and Keynesian. Monetarism can be regarded as a school of thought in monetary economics. It emphasizes the role of the government in controlling how the money is circulated nationwide. Those who favor the movement of monetarism (monetarists) are of the view that the irregular supply money can influence the nation’s output to an extent and that the best way to meet the objectives of monetary policy is by targeting the growth rate of money. Nowadays, monetarism is largely associated with Milton Freidman’s work; he is one of those very first economists who accepted Keynesian economics
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