Livejournal
Log in
Post
Friends
My journal
scholar_vit
Brad DeLong on Monetarism
Mar 28, 2009 14:06
Today, we have reached the end of the line for the Chicago view of financial deregulation. Friedman thought (a) that the central bank could exercise enough influence over the money supply to effectively control it, and (b) that banks and other financial intermediaries would be regulated tightly enough that what is now happening would be impossible. But he never resolved the tension between his view that banks need controls and the Chicago view that business must be unfettered.
economics
Leave a comment
Read comments 1
Previous post
Next post
Up