Nobel Prize winner Professor Milton Friedman relied on Monetary Theory to achieve successful economies and societies. He saw the challenge as controlling the money supply so it would grow at a steady rate. Our present financial crisis has shown that events can conspire to severely reduce the money supply and place the money supply well beyond the control of bankers, economists & thinkers.
Professor Friedman also taught the world to believe in deregulation and privatization as keys to the growth of wealth. Bankers, economists & thinkers now tell us deregulation & privatization have brought on the present financial crisis resulting in an uncontrollable reduction in the money supply and concomitant deflation (i.e. recession or depression).
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