
Originally Posted by
Dr. Righteous
Friedman was a brilliant man. What monetary policy are you referring to that he was an architect of?
Monetarism. Friedman's ideology written in Monetary History of the United States argued that the Great Depression was the result of monetary contraction. In that regard, he argued that "dropping money out of a helicopter" could work. This notion has become the framework for the policy mindsets of Ben Bernanke and Timothy Geithner. His ideas, while well intentioned, have been abused tremendously, as have Keynes' ideas.
Last edited by thediplomat2.0; Mar 10 2012 at 07:46 PM.
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