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To: michael meyers who wrote (4830)	5/4/1998 7:35:00 PM
From: MrGreenJeans	Respond to of 42834

Mike Meyers----------->M------->MV=GDP <Absolutely, many monetary economists believe there is a direct effect between monetary growth and GDP growth. No, they don't. Monetary economists believe monetary growth affects inflation, but has no effect on real GDP growth.> While it is true that monetary economists believe that inflation is everything monetary it is also true that they believe that an increase in the money supply , unless fully offset by an induced shift in V, will serve to increase dollar GNP or these days GDP. A good reference is A Monetary History of the United States, by Milton Friedman and Anna Schwartz, Princeton University Press for the National Bureau of Economic Research, 1963. In any event, post Keynesians and monetarists both agree that money matters.