Nixon Did It, But Uncle Milton Friedman Was The Author Of History’s Greatest Monetary Folly

Monetarists like Friedman, along with his “market monetarist” disciples, believed and believe money creation is an instigator of economic activity, thus rendering allegedly insufficient money creation a somnolent. No, markets are wise. Production never lacks for money. That’s why a desire to plan so-called “money supply” is an obnoxious conceit as braindead as the properly-dismissed Soviet Five Year Plans of the past.