![]() In a direct challenge to the Keynesian establishment, Friedman and his fellow monetarists held that governments could foster economic stability by controlling the supply of money that flows into the economy and allowing the rest of the market to fix itself ( monetarism) and argued for a return to the free market, including smaller government and deregulation in most areas of the economy ( free-market capitalism). Over the course of his academic career, Friedman wrote influential articles on the modern economy and published pioneering books that changed the way economics is taught. ![]() Friedman’s advocacy of monetarism was so effective that he turned the tide of economic thought away from Keynesian fiscal policy toward monetary policy focused on control of the money supply to control inflation. ![]() ![]()
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