8537
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That's the episode, but I disagree with Thoma & McCallum's assessment of it. Volcker etal were rather explicit about their intentions in later years: They used a shift to monetarist pegging as a cover for wringing inflation out of the economy, which they knew would cause a severe recession (and they were right!)No.
I picked up Milton Freidmans Monitary History of the United States years ago while in college. I couldn't even understand it. So I took Macro and Micro economics and tried again. Nope, still couldn't understand Freidman. I am ilequiped to debate monetarism via Freidmans method. I was just playing around with you. Have you read his work? Not his political but scientific?
I haven't read all of his economic work. I've read a couple of his seminal journal articles from the 1950's and 1960's and I keep a copy of his and Schwartz Monetary History close by at all times - while I don't agree with the entire book, it's quite likely the greatest economic history thome ever written.
I am assured that you are just another liberal nobody that Freidman could rhetorically smash as he has so many liberal academics, students, and politicians.
Fuck you too. How'd his attempt to smash Volcker work out?
Economist's View: The U.S. Monetary Experience of 1979-1982 is this what you're talking about ?
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