The Debate Between Keynesians and Monetarists Was Perhaps the Central

question 80

Essay

The debate between Keynesians and monetarists was perhaps the central controversy in macroeconomics in the 1960s. The leading spokesman for monetarism was Milton Friedman from the University of Chicago. Where did Friedman put the blame and why?

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Definitions:

Theorists

Individuals who develop ideas and principles about a specific field or phenomenon, often forming the basis for further research.

Cortical Neurons

Specialized cells in the brain's cortex involved in processing information and executing complex functions.

Dreams

Mental experiences that occur during sleep, featuring imagery, thoughts, and emotions.

Waking

The state of being awake, characterized by consciousness, awareness, and engagement with the environment.