Criticizing the critics of monetarism

By the start of the twenty-first century monetarism – unlike a surprisingly adaptable Keynesianism – was being referred to in the past tense. For some people it was a convenient swearword, used to express their loathing for everything that had gone wrong (as they saw it) since conservative governmen...

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Autores:
Tipo de recurso:
Part of book
Fecha de publicación:
2007
Institución:
Universidad de Bogotá Jorge Tadeo Lozano
Repositorio:
Expeditio: repositorio UTadeo
Idioma:
eng
OAI Identifier:
oai:expeditiorepositorio.utadeo.edu.co:20.500.12010/15426
Acceso en línea:
http://hdl.handle.net/20.500.12010/15426
Palabra clave:
Monetarism
Escuela de economía de Chicago
Economía
Economía -- Teorías
Rights
License
Abierto (Texto Completo)
Description
Summary:By the start of the twenty-first century monetarism – unlike a surprisingly adaptable Keynesianism – was being referred to in the past tense. For some people it was a convenient swearword, used to express their loathing for everything that had gone wrong (as they saw it) since conservative governments in the USA and the UK embraced free-market economics in the 1980s. A more sympathetic author interpreted the rise and fall of monetarism in Britain as a problem in ‘social learning’. In his words, writing in the mid-1990s, The social learning process since 1979 has been a mixed affair. The 1980s were a time of policy experiments . . . While it would be wrong to see policy as an unqualified success in the 1980s, it would be equally incorrect to conclude that nothing positive has come from the past 16 years