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What is "monetarism"

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monetarism
Longman Dictionary of Contemporary English
monetarism
noun
EXAMPLES FROM CORPUS
▪ A summary of the main tenets of monetarism and the monetarist policy recommendations are summarised at the end of the next chapter.
▪ Critics of monetarism, however, remain unconvinced.
▪ His government's free-the-market monetarism was beginning to bear fruit.
▪ If monetarism is adopted as the basis for policy, the authorities must reduce the endogenous element to a minimum.
▪ The monetarism which Nigel Lawson abandoned was not perfect.
▪ The kind of ideological politics which he castigates as non-Conservative covers monetarism as well as Marxism.
▪ The rise of monetarism was accompanied by increased importance being attached to monetary policy.
The Collaborative International Dictionary
monetarism

monetarism \mon"e*tar*ism\, n. An economic theory holding that the rate of growth of the money supply is the priunciple cause of changes in inflation, economic growth, and unemployment.

Wiktionary
monetarism

n. 1 (context economics English) The doctrine that economic systems are controlled by variations in the supply of money. 2 (context economics English) The political doctrine that a nation's economy can be controlled by regulating the money supply.

WordNet
monetarism

n. an economic theory holding that variations in unemployment and the rate of inflation are usually caused by changes in the supply of money

Wikipedia
Monetarism

Monetarism is a school of thought in monetary economics that emphasizes the role of governments in controlling the amount of money in circulation. Monetarist theory asserts that variations in the money supply have major influences on national output in the short run and on price levels over longer periods. Monetarists assert that the objectives of monetary policy are best met by targeting the growth rate of the money supply rather than by engaging in discretionary monetary policy.

Monetarism today is mainly associated with the work of Milton Friedman, who was among the generation of economists to accept Keynesian economics and then criticise Keynes' theory of gluts using fiscal policy (government spending). Friedman and Anna Schwartz wrote an influential book, A Monetary History of the United States, 1867–1960, and argued " inflation is always and everywhere a monetary phenomenon." Though he opposed the existence of the Federal Reserve, Friedman advocated, given its existence, a central bank policy aimed at keeping the supply and demand for money at equilibrium, as measured by growth in productivity and demand.

Usage examples of "monetarism".

Philip K Hutch did his bit for monetarism by paying his employees as little as possible and always spending the millions that he himself personally earned.

Of course all this had nothing whatsoever to do with monetarism, but Philip K Hutch liked the word, so had adapted its meaning to match his point of view.

There were actually adherents then of an intellectually bankrupt theory called monetarism, which enabled the rich to get richer, the poor to get poorer, by applying a completely disproven economic theory in place of intelligence.

Individual Mutualism is neither capitalism, communism, socialism, vegetarianism, or even the dreaded monetarism that destroyed many a technological society.

There were actual­ly adherents then of an intellectually bankrupt theory called monetarism, which enabled the rich to get richer, the poor to get poorer, by applying a completely disproven economic theory in place of intelligence.