Quotes About Monetarists

He rejected with scorn as crude, novel and unproven the notion associated with the US economist Art Laffer that marginal tax cuts could yield substantially higher tax revenues and that they had a crucial role in accelerating economic growth.8 And he also favoured according a role to the exchange rate that orthodox monetarists would not.

Over the last decade, economists seemed to share a broad consensus about economic policy, with the old splits between monetarists and Keynesians apparently being settled by events. But the Great Recession of the last two years has changed everything.