| 单词 | monetarism |
| 释义 | monetarism A school of thought in economics that places money at the centre of macroeconomic policy. Based on the quantity theory of money, it relates the price level to the quantity of money in the economy. It claims that monetary factors are a major influence on the economy and that, in particular, government expansion of the money supply will tend to generate inflation rather than employment. This view is now associated with Milton Friedman (1912- ) of Chicago University. Monetarism is also associated with the idea that relying on the market is more efficient than relying on state-sponsored activity. |
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