Talk:monetarism

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The only two senses of the word given today (2008-02-02), both explicitly stating that they relate to the field of economics, are stunningly incorrect. The article gives: On the first, monetarism does not hold that the "entire economic system" is controlled by money supply changes, but that changes in the aggregate (economy-wide) price level are affected by variations in the money supply. This should illustrate why the second sense given is also incorrect. It is true that a number of economic theorists emerged in the mid-twentieth century to develop a school of thought on the failings of standard neoclassical and Keynesian economics. But the monetarists developed a broad and complex critique, and certainly did not hold anything as simplistic as "economic systems" are "controlled by" variations in the supply of money. I am not a wordsmith, so am not the best person to try to fix this in a Wiktionary-like way, and I don't have the time right now anyway. But both of these definitions, as is, are wrong. Cheers, N2e 15:02, 2 February 2008 (UTC)
 * (economics) The doctrine that economic systems are controlled by variations in the supply of money
 * (economics) The political doctrine that a nation's economy can be controlled by regulating the money supply