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Strategies & Market Trends : Heinz Blasnik- Views You Can Use
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To: GraceZ who wrote (2406)6/11/2003 2:09:13 PM
From: yard_man  Read Replies (2) of 4912
 
>>Friedman isn't that far away from Mises if you look at what I said this morning about Friedman's idea of holding the growth of the money supply at a constant 2% to match the long run rate of productivity growth<<

this is a distortion, Grace -- the Austrian school does not admit the money supply should grow with anything for the economy function at its best.

Friedman is very far away from the Austrian school in his reasoning -- the theory that he is most famous for among laymen -- that the Great Depression could have been avoided if the money supply had been allowed to grow -- is antithetical to the Austrian cycle theory. That's not my interpretation or distortion. it is a fact -- you can read it yourself.
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