Monetarism is an economically Error creating thumbnail: Unable to save thumbnail to destination right ideology, whose general economic theory created by Error creating thumbnail: Unable to save thumbnail to destination 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
- Error creating thumbnail: Unable to save thumbnail to destination Chicagoan Libertarianism - My dad who neglects me at times.
- Error creating thumbnail: Unable to save thumbnail to destination Fiscal Conservatism - We agree that economic policies must be fiscally responsible and long-term sustainable.
- Error creating thumbnail: Unable to save thumbnail to destination Classical Conservatism - Enoch Powell is a great pal.
- Error creating thumbnail: Unable to save thumbnail to destination New Keynesianism - Error creating thumbnail: Unable to save thumbnail to destination Keynesianism but better!
Frenemies
- Error creating thumbnail: Unable to save thumbnail to destination Austrolibertarianism - Gold isn't a good currency.
- Error creating thumbnail: Unable to save thumbnail to destination Hayekism - Free Banking doesn't prevent inflation.
- Error creating thumbnail: Unable to save thumbnail to destination 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
- Error creating thumbnail: Unable to save thumbnail to destination Mugabeism - GET AWAY FROM THAT PRINTER.
Further Information
Literature
Wikipedia
- Monetarism
- Clark Warburton
- Quantity theory of money
- Monetary disequilibrium theory
- Friedman's k-percent rule
Gallery
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MonetaryPolicyEnjoyer - Broke it temporarily, sorry for the inconvenience.