Naturally, the question we're supposed to consider is framed in terms of Chicago School economics, the same people who gave us monetarism .
The modern version of monetarism argues that if foreign central banks were committed to price stability, then a worldwide concerted assault on inflation would be successful.
The speech was aimed directly at the government's extremely austere fiscal stance and its almost fanatical adherence to monetarism .
The economic theory known as monetarism holds that the money stock exerts an important influence on economic activity and prices.
Both Milton Friedman's theory of monetarism and the rational expectations school of macroeconomics challenged the effectiveness of activist monetary policy.
Over the past two decades, however, Canadians have also been prone to buy into the merits of monetarism , lower levels of taxation and balanced budgets.
We've seen the effect of monetarism as a policy, over the past 35 years, on the conditions of life in the United States, in Western Europe, South and Central America, and so forth.
In fact monetarism proved to be unworkable, because whichever indicator of money supply was used, other forms of money went out of control.
That government slashed public spending and introduced monetarism .
During the late 1970s and the 1980s, it was replaced as the dominant economic theory by monetarism .