{"id":25380,"date":"2018-04-05T11:38:28","date_gmt":"2018-04-05T15:38:28","guid":{"rendered":"http:\/\/ssgreenberg.name\/PoliticsBlog\/?p=25380"},"modified":"2018-04-05T11:38:28","modified_gmt":"2018-04-05T15:38:28","slug":"milton-friedmans-the-role-of-monetary-policy-50-years-later","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2018\/04\/05\/milton-friedmans-the-role-of-monetary-policy-50-years-later\/","title":{"rendered":"Milton Friedman\u2019s \u201d The Role of Monetary Policy\u201d \u2013 50 Years Later"},"content":{"rendered":"<p><em>Naked Capitalism<\/em> has the article <a href=\"https:\/\/www.nakedcapitalism.com\/2018\/04\/milton-friedmans-role-monetary-policy-50-years-later.html\" rel=\"noopener\" target=\"_blank\">Milton Friedman\u2019s \u201d The Role of Monetary Policy\u201d \u2013 50 Years Later<\/a>.<\/p>\n<p>You can read all the professional remarks without ever seeing a mention of the obvious that I see.<\/p>\n<p>What happened to Keynes\u2019 insight that putting liquidity out there is like pushing on a string as long was there is no demand for investment? If the spenders, the middle-class, are not getting the money, there will be slack consumer demand. With the increasing size of the Chinese economy and its tendency to suck up all manufacturing as an excuse to keep salaries low, I don\u2019t know how much of Friedman\u2019s analysis can apply anymore. None of the forces driving the world economy now were large enough to have an impact when Friedman looked at the data.<\/p>\n<p>It just amazes me that we can have these economic discussions without ever mentioning the elephant in the room.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Naked Capitalism has the article Milton Friedman\u2019s \u201d The Role of Monetary Policy\u201d \u2013 50 Years Later. You can read all the professional remarks without ever seeing a mention of the obvious that I see. What happened to Keynes\u2019 insight that putting liquidity out there is like pushing on a string as long was there [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":{"0":"post-25380","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-stevegsposts","7":"czr-hentry"},"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/25380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=25380"}],"version-history":[{"count":1,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/25380\/revisions"}],"predecessor-version":[{"id":25381,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/25380\/revisions\/25381"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=25380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=25380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=25380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}