The Retreat from Monetarism
J.R. Shackleton, 6 February 1986
“... as well as being ultimately pointless. The monetarist sees himself as a moralist, whatever bishops may think. All this led Friedman to conclude that variations in output, employment and (crucially) prices will be minimised by the adoption of a firm ‘monetary rule’. This involves a clear and irrevocable government commitment to expand the money supply at a ... ”