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{{Ideology | {{Ideology | ||
|themecolor= | |themecolor= | ||
|textcolor=# | |textcolor=#141414 | ||
|title=[[File:Monet.png]] Monetarism | |title=[[File:Monet.png]] '''Monetarism''' | ||
|image=Monetarism-2.png | |image=Monetarism-2.png | ||
|caption= | |caption=“Stop the presses! When the second coming of Friedman returns so shall they!” | ||
|aliases=Neo-Chicagoan | |aliases=[[File:Neo-Chilib.png]] Neo-Chicagoan School<br>Monetary Conservatism<br> | ||
|alignments=[[File:Rightunity-yellow.png]] [[RightUnity]] | |alignments=[[File:Rightunity-yellow.png]] [[RightUnity]] | ||
|song= | |song= | ||
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*[[File:EnochPowell.png]] [[Classical Conservatism|Enoch Powell]] (1912-1998) [[File:Cball-UK.png]] UK | *[[File:EnochPowell.png]] [[Classical Conservatism|Enoch Powell]] (1912-1998) [[File:Cball-UK.png]] UK | ||
*[[File:Thatcher.png]] [[Conservative Liberalism|Margaret Thatcher]] (1925-2013) [[File:Cball-UK.png]] UK | *[[File:Thatcher.png]] [[Conservative Liberalism|Margaret Thatcher]] (1925-2013) [[File:Cball-UK.png]] UK | ||
}} | |||
[[File:PanAsian.png]] '''Asia-Pacific'''{{Collapse| | |||
*[[File:Necon.png]] [[Neoconservatism|Tsukasa Jonen]] (1969-) [[File:Cball-Japan.png]] Japan | |||
}} | }} | ||
|likes= | |likes= | ||
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}} | }} | ||
}} | }} | ||
'''Monetarism''' is an economically [[ | '''Monetarism''' is an economically [[File:Cap.png]] [[Capitalism|right]] ideology, whose general economic theory was created by [[File:Friedman.png]] [[Chicago School|Milton Friedman]] to cure inflation. He believes that the government's primary role in the economy should be monetary policy with the goal of keeping inflation under control. Specifically, he thinks that there should be a very low inflation rate (1%-3%), and he wants this to be as stable as possible, since it being stable eliminates the market distortion both non-stable inflation/deflation brings. In modern times, several Monetary Authorities, notably Former Federal Reserve Chair and Nobel Prize winner Ben Bernanke, have been monetarists. Monetarist policies were used by Bernanke during the 2008 Great Recession with expansion of QE (Quantitative Easing) and the overall expansion of Money Supply. | ||
==History== | ==History== | ||
===The Federal Reserve Under Ben Bernanke (2006-2014)=== | ===The Federal Reserve Under Ben Bernanke (2006-2014)=== | ||
Ben Bernanke was elected by President George H.W Bush along with the U.S Senate as Federal Reserve Chair on February 1st of 2006, succeeding the acclaimed Chair Alan Greenspan. Bernanke himself was considered an Orthodox Monetarist, and his skill was soon put to the test two years after his appointment during the 2008 Housing Crisis. The Federal Reserve ramped up Money Printing, as well as QE, in an attempt to stabilize the economy and ease off the pain caused by MBS. While most economists call the Federal Reserve's efforts a success, a few others, such as the staunch anti-fiat-currency Representative Ron Paul, criticized the Fed and Bernanke for the ensuing stagflation of 2012. | Ben Bernanke was elected by President George H.W Bush along with the U.S Senate as Federal Reserve Chair on February 1st of 2006, succeeding the acclaimed Chair Alan Greenspan. Bernanke himself was considered an Orthodox Monetarist, and his skill was soon put to the test two years after his appointment during the 2008 Housing Crisis. The Federal Reserve ramped up Money Printing, as well as QE, in an attempt to stabilize the economy and ease off the pain caused by MBS. While most economists call the Federal Reserve's efforts a success, a few others, such as the staunch anti-fiat-currency Representative Ron Paul, criticized the Fed and Bernanke for the ensuing stagflation of 2012. | ||
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==Beliefs== | ==Beliefs== | ||
Monetarism is an approach to Macroeconomics which stresses a large focus upon Monetary Policy instead of Fiscal Policy, in contrast to [[File:Keynes.png]] [[Keynesian School]]. Monetarism prefers Monetary Policy over Fiscal due to its belief that Monetary Policy is significantly easier to change than Fiscal Policy, and can have a far greater effect on the most important issue (to him) which is inflation. While Monetarism is quite different from Keynesianism, they both hold the axiomatic beliefs of Central Banking, Fiat Currency and so forth, and are usually combined in some form. | Monetarism is an approach to Macroeconomics which stresses a large focus upon Monetary Policy instead of Fiscal Policy, in contrast to [[File:Keynes.png]] [[Keynesian School]]. Monetarism prefers Monetary Policy over Fiscal due to its belief that Monetary Policy is significantly easier to change than Fiscal Policy, and can have a far greater effect on the most important issue (to him) which is inflation. While Monetarism is quite different from Keynesianism, they both hold the axiomatic beliefs of Central Banking, Fiat Currency and so forth, and are usually combined in some form. | ||
== Personality and Behaviour== | ==Personality and Behaviour== | ||
Monetarism is a specter of ancient theory (circa 1950) that occasionally is summoned by nations being plagued by high inflation and prices. After possessing a local central banker, he will destroy printers as penance to [ | Monetarism is a specter of ancient theory (circa 1950) that occasionally is summoned by nations being plagued by high inflation and prices. After possessing a local central banker, he will destroy printers as penance to [[w:Milton_Friedman|Milton Friedman]], hoping that he will come back to life in full glory and usher in a new era of economic. He shall continue to offer up printers, non believers, and monetary workers until his messiah returns. Since this has yet to happen, all he usually has to show is better economic policy. After a few years, he is eventually exorcised from his host once they order a new printer. | ||
==How to Draw== | ==How to Draw== | ||
| Line 53: | Line 54: | ||
#Draw blue lines on both edges of the red stripe, | #Draw blue lines on both edges of the red stripe, | ||
#Draw the eyes and you're finished! | #Draw the eyes and you're finished! | ||
{{Flag-auto | {{Flag-auto | ||
|c1 = Red | |c1 = Red | ||
| Line 61: | Line 63: | ||
==Relationships== | ==Relationships== | ||
===Friends === | ===Friends=== | ||
*[[File:Chilib.png]] [[Chicago School]] - My dad who neglects me at times. | *[[File:Chilib.png]] [[Chicago School]] - My dad who neglects me at times. | ||
*[[File:Fiscon.png]] [[Fiscal Conservatism]] - We agree that economic policies must be fiscally responsible and long-term sustainable. | *[[File:Fiscon.png]] [[Fiscal Conservatism]] - We agree that economic policies must be fiscally responsible and long-term sustainable. | ||
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*[[File:Newkeynes.png]] [[Keynesian School|New Keynesianism]] - [[File:Keynes.png]] [[Keynesian School]] but better! | *[[File:Newkeynes.png]] [[Keynesian School|New Keynesianism]] - [[File:Keynes.png]] [[Keynesian School]] but better! | ||
=== Frenemies=== | ===Frenemies=== | ||
*[[File:Hayek.png]] [[Hayekism]] - Free Banking doesn't prevent inflation. | *[[File:Hayek.png]] [[Hayekism]] - Free Banking doesn't prevent inflation. | ||
*[[File:Keynes.png]] [[Keynesian School]] - He believes the government should focus on government spending in times of crisis, I think the government should focus on money supply. Overall we still agree on central banking and the like, so we respect each other. | *[[File:Keynes.png]] [[Keynesian School]] - He believes the government should focus on government spending in times of crisis, I think the government should focus on money supply. Overall we still agree on central banking and the like, so we respect each other. | ||
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*[[File:Mug.png]] [[African Socialism|Mugabeism]] - GET AWAY FROM THAT PRINTER. | *[[File:Mug.png]] [[African Socialism|Mugabeism]] - GET AWAY FROM THAT PRINTER. | ||
*[[File:Chavismo.png]] [[Chavismo]] - YOU TOO! | |||
*[[File:Juche.png]] [[Juche]] - Stop printing counterfeit money reeeeeee! | *[[File:Juche.png]] [[Juche]] - Stop printing counterfeit money reeeeeee! | ||
*[[File:Austrobert.png]] [[Austrian School]] - Is gold money? No. No it is not. | *[[File:Austrobert.png]] [[Austrian School]] - Is gold money? No. No it is not. | ||
==Gallery== | |||
===Portraits=== | |||
<gallery> | |||
Monetarism-2.png|Old portrait | |||
</gallery> | |||
==Further Information== | ==Further Information== | ||
===Literature=== | ===Literature=== | ||
*[https://books.google.com/books?id=Q7J_EUM3RfoC A Monetary History of the United States] by [[File:Friedman.png]] [[Chicago School|Milton Friedman]] and [[File:Chilib.png]] [[Chicago School|Anna Schwartz]] | *[https://books.google.com/books?id=Q7J_EUM3RfoC A Monetary History of the United States] by [[File:Friedman.png]] [[Chicago School|Milton Friedman]] and [[File:Chilib.png]] [[Chicago School|Anna Schwartz]] | ||
*[https://openlibrary.org/books/OL1717100M/A_program_for_monetary_stability A Program For Monetary Stability] by [[File:Friedman.png]] [[Chicago School|Milton Friedman]] | *[https://openlibrary.org/books/OL1717100M/A_program_for_monetary_stability A Program For Monetary Stability] by [[File:Friedman.png]] [[Chicago School|Milton Friedman]] | ||
===Wikipedia=== | ===Wikipedia=== | ||
*[[w:Monetarism|Monetarism]] | |||
*[ | *[[w:Clark_Warburton|Clark Warburton]] | ||
*[ | *[[w:Quantity_theory_of_money|Quantity theory of money]] | ||
*[ | *[[w:Monetary-disequilibrium_theory|Monetary disequilibrium theory]] | ||
*[ | |||
*[[w:Friedman's k-percent rule|Friedman's k-percent rule]] | *[[w:Friedman's k-percent rule|Friedman's k-percent rule]] | ||
==Navigation== | ==Navigation== | ||
{{Navbox/Capitalists}} | |||
{{Navbox/Rightunity}} | |||
[[Category:Cultural Center]] | |||
[[Category:Economic Systems]] | [[Category:Economic Systems]] | ||
[[Category:Status Quo]] | |||
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.portable-infobox .pi-header, .portable-infobox .pi-title { | |||
background: linear-gradient(180deg, #FFFFFF, #FFFFFF 20%, #416494 20%, #416494 40%, #D90200 40%, #D90200 60%, #416494 60%, #416494 80%, #FFFFFF 80%, #FFFFFF); | |||
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Latest revision as of 11:12, 1 April 2024
Monetarism is an economically 
right ideology, whose general economic theory was created by 
Milton Friedman to cure inflation. He believes that the government's primary role in the economy should be monetary policy with the goal of keeping inflation under control. Specifically, he thinks that there should be a very low inflation rate (1%-3%), and he wants this to be as stable as possible, since it being stable eliminates the market distortion both non-stable inflation/deflation brings. In modern times, several Monetary Authorities, notably Former Federal Reserve Chair and Nobel Prize winner Ben Bernanke, have been monetarists. Monetarist policies were used by Bernanke during the 2008 Great Recession with expansion of QE (Quantitative Easing) and the overall expansion of Money Supply.
History
The Federal Reserve Under Ben Bernanke (2006-2014)
Ben Bernanke was elected by President George H.W Bush along with the U.S Senate as Federal Reserve Chair on February 1st of 2006, succeeding the acclaimed Chair Alan Greenspan. Bernanke himself was considered an Orthodox Monetarist, and his skill was soon put to the test two years after his appointment during the 2008 Housing Crisis. The Federal Reserve ramped up Money Printing, as well as QE, in an attempt to stabilize the economy and ease off the pain caused by MBS. While most economists call the Federal Reserve's efforts a success, a few others, such as the staunch anti-fiat-currency Representative Ron Paul, criticized the Fed and Bernanke for the ensuing stagflation of 2012.
While controversial in 
extremely libertarian or leftist circles, most consider the chairmanship of Ben Bernanke to have had a positive effect. He was succeeded by Janet Yellen, one of his deputies, in early January of 2014.
Beliefs
Monetarism is an approach to Macroeconomics which stresses a large focus upon Monetary Policy instead of Fiscal Policy, in contrast to 
Keynesian School. Monetarism prefers Monetary Policy over Fiscal due to its belief that Monetary Policy is significantly easier to change than Fiscal Policy, and can have a far greater effect on the most important issue (to him) which is inflation. While Monetarism is quite different from Keynesianism, they both hold the axiomatic beliefs of Central Banking, Fiat Currency and so forth, and are usually combined in some form.
Personality and Behaviour
Monetarism is a specter of ancient theory (circa 1950) that occasionally is summoned by nations being plagued by high inflation and prices. After possessing a local central banker, he will destroy printers as penance to Milton Friedman, hoping that he will come back to life in full glory and usher in a new era of economic. He shall continue to offer up printers, non believers, and monetary workers until his messiah returns. Since this has yet to happen, all he usually has to show is better economic policy. After a few years, he is eventually exorcised from his host once they order a new printer.
How to Draw
- Draw a ball,
- Draw a red stripe through the middle vertical third of the ball,
- Draw blue lines on both edges of the red stripe,
- Draw the eyes and you're finished!
| Color Name | HEX | RGB | |
|---|---|---|---|
| Red | #D90200 | 217, 2, 0 | |
| Blue | #416494 | 65, 100, 148 | |
Relationships
Friends
Chicago School - My dad who neglects me at times.
Fiscal Conservatism - We agree that economic policies must be fiscally responsible and long-term sustainable.
Classical Conservatism - Enoch Powell is a great pal.
Classical Liberalism - And you're even better.
New Keynesianism - 
Keynesian School but better!
Frenemies
Hayekism - Free Banking doesn't prevent inflation.- Keynesian School - He believes the government should focus on government spending in times of crisis, I think the government should focus on money supply. Overall we still agree on central banking and the like, so we respect each other.
Enemies
Mugabeism - GET AWAY FROM THAT PRINTER.
Chavismo - YOU TOO!
Juche - Stop printing counterfeit money reeeeeee!
Austrian School - Is gold money? No. No it is not.
Gallery
Portraits
-
Old portrait
Further Information
Literature
- A Monetary History of the United States by
Milton Friedman and Anna Schwartz - A Program For Monetary Stability by Milton Friedman
Wikipedia
- Monetarism
- Clark Warburton
- Quantity theory of money
- Monetary disequilibrium theory
- Friedman's k-percent rule
 Right Unity - Free Markets and 
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 Social Darwinism
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