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- Other Schools of Thought
- Joseph T. Salerno
- 2004
Mises Daily
Author:
Joseph T. Salerno
Online Publish Date:
Although there are deep and abiding differences between Chicago school monetarists and Austrian monetary theorists, there has always been strong agreement among them on one thing: the central importance of the money supply in explaining the purchasing power of money or “price level” in the economy. This does not appear to be the case any longer.