The two most prominent theories of macroeconomics to emerge during the 20 th century are the Keynesian Theory of Money and the Monetarism Theory. Keynesian thought traces back to the early part of the ...

Anna Schwartz must be the oldest active revolutionary on earth. Born in 1915 in New York, she can still be found nearly every day at her office in the National Bureau of Economic Research on Fifth ...

A popular story promoted by Monetarist School thinkers is the one about Milton Friedman discrediting the Phillips Curve. For those not familiar with the latter, it’s the incorrect theory embraced by ...

Just how important is money? Few would deny that it plays a key role in the economy. But one school of economic thought, called monetarism, maintains that the money supply (the total amount of money ...

Just how important is money? Few would deny that it plays a key role in the economy.­ During the Great Depression of the 1930s, existing economic theory was unable either to explain the causes of the ...

While central planning has historically been associated with the American left, and with failed socialist experiments outside the U.S., it’s most recently revealed itself on the American right. The ...

On November 9, AEI’s Paul H. Kupiec hosted Scott Sumner of the Mercatus Center for a discussion of Dr. Sumner’s new book, “The Money Illusion: Market Monetarism, the Great Recession, and the Future of ...