Monetarism: Difference between revisions

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Revision as of 05:25, 28 July 2022

Monetarism is an economically right ideology, whose general economic theory created by Milton Friedman to cure inflation. He believes that inflation, even though being really bad, the government's only role as far as monetary policy is the matter should be to maintain inflation under control, they think that there should be a very low inflation rate (1%-3%) but 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-FED Chair Ben Bernanke, have been noted Monetarists. Monetarist Policies were used by Bernanke during the 2008 Housing Crisis 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 2 Years after his Appointment during the 2008 Housing Crisis. The Federal Reserve ramped up Money Printing, as well as a Monetary Policy known as Quantitative Easing, or QE, whereby the Federal Reserve purchased several Mortgage-Backed Securities to pump money into the economy, as well as ease off the pain caused by MBS. While many economists call the Federal Reserve's efforts a success, many others, such as Anti-Fed Representative Ron Paul, criticized the FED and Bernanke for the ensuing Stagflation of 2012.

While controversial in many circles, most Economists call the Chairmanship of Ben Bernanke a relative success. He was succeeded by Janet Yellen, one of his deputies, in early January of 2014.

Beliefs

Market Monetarism

TBA

Personality and Behaviour

Monetarism is a specter of theory that occasionally is summoned by nations being plagued by high inflation and prices. Once possessing policy he will destroy printers as penance to Milton Friedman begging for his return to Monetarist ideals believing they shall be repaired and print modestly during his second coming. He shall continue to offer up printers, non believers, monetary workers until his messiah returns. Since this has yet to happen he is eventually exorcised from his host once they order a new printer or begin increasing their money supply in any way.

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 done!

Color Name		HEX	RGB
	Red	#D90200	217, 2, 0
	Blue	#416494	65, 100, 148

Relationships

Friends

Chicagoan Libertarianism - 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.
Keynesianism - Keynesianism but better!

Frenemies

Austrolibertarianism - Gold isn't a good currency.
Hayekism - Free Banking doesn't prevent inflation.
Keynesianism - 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 such, we respect eachother.

Enemies

Mugabeism - GET AWAY FROM THAT PRINTER.

Further Information

Literature

Wikipedia

Gallery

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MonetaryPolicyEnjoyer - Broke it temporarily, sorry for the inconvenience.