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Quantity Theory Themes

In: Milton Friedman

Author

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  • James Forder

    (University of Oxford)

Abstract

Friedman’s work of the 1960s and some of that of the 1970s which either led to or was derivative from A Monetary History of the United States is considered. It is suggested that six strands of enquiry, all of them relating to the Quantity Theory of Money can be identified. Each strand is analysed. It is observed that Friedman’s accounts of the development of monetary thought since 1936 are inadequate, but that his attempts to bring empirical resolution to disputed theoretical issues seem sincere and inventive. Nevertheless, he failed to achieve the consensus he sought.

Suggested Citation

  • James Forder, 2019. "Quantity Theory Themes," Great Thinkers in Economics, in: Milton Friedman, chapter 0, pages 215-260, Palgrave Macmillan.
    • Handle: RePEc:pal:gtechp:978-1-137-38784-4_14
    DOI: 10.1057/978-1-137-38784-4_14
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