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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: UnBelievable who wrote (4461)7/19/2000 9:55:19 AM
From: Mike M2  Read Replies (1) of 436258
 
Unb., I would say the most significant differences between the monetarists and the austrians is that the monetarists believe you can prevent deflation if you print enough money. In addition, the monetarists on money supply growth whereas the Austrians focus on credit growth - a very important distinction since more credit is created outside the banking system currently and is not captured by the monetary aggregates. Nonbank credit does not increase the money supply but it does increase velocity and it does wonders to perpetuate a financial bubble until we get the inevitable TL & EV. Mike
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