The State of the Monetarist Debate
For over 35 years there has been continuing debate between two prominent schools of economic thought, recently characterized by the labels “monetarist” and “post-Keynesian.” On the monetarist side are Karl Brunner, Milton Friedman, and Allan Meltzer. On the post-Keynesian side are Lawrence Klein, Franco Modigliani, Paul Samuelson, and James Tobin. The debate between them has been ongoing.
follow @stlouisfed