Friedman 1956. In the short run he argued increases in money supply growth cause employment and output to increase and decreases in money supply growth have the opposite effect. Measured income experience from 20 to 30 as recorded in the solid jagged line is a datum so also of course are other items not recorded in the figure such as the amount of nonhuman wealth possessed the.
Search for more papers by this author. Professor of philosophy and literature at sarah lawrence college bronxville new york. Of age on the date in 1956 for which the figure is drawn.
Measured income experience from 20 to 30 as recorded in the solid jagged line is a datum so also of course are other items not recorded in the figure such as the amount of nonhuman wealth possessed the.
Four empirical studies by phillip cogan john j. Milton friedman restates the quantity theory of money and discusses the significance of its revival after a period of eclipse by the keynesian view. The quantity theory of money a restatement in studies in the quantity theory of money edited by milton friedman 3 21. Chapter summaries introduction the introduction lays out the principles of friedman s archetypal liberal a man who supports limited and dispersed governmental power.
