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The quantity theory of money - Tim Congdon

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Title
The quantity theory of money - a new restatement
Author
Tim Congdon
format
Paperback / softback
Publisher
London Publishing Partnership
Language
English
UK Publication Date
20240613

Description

Tim Congdon laments the widespread inflation forecasting failure. From the very start, he warned both that rapid money growth was to be expected and that it would lead to a serious inflation flare-up. In rigorous but accessible language, Congdon explains the continuing analytical power of the quantity theory of money. As with other inflation episodes in the past, the inflation of the early 2020s demonstrated the force of Milton Friedman's dictum that 'inflation is always and everywhere a monetary phenomenon'.

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