Dollar’s taking us for a spin

First, a brief recall of the basics of monetary economics which deals with the relation between paper money and real economy. Milton Friedman theorised on monetary economics, won Nobel recognition. The Economist (2006) celebrated Friedman as possibly “the most influential economist” of the 20th century and the Econ Journal Watch survey (2011) ranked him next only to John Maynard Keynes. Keynes’s thesis was that monetary policy should make money cheap to promote investment and consumption.

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