The Monetarists

See our Survey of Monetarism for more details on this school of thought.

Early "Monetarists"

• Jean Bodin, 1530-1596.

• John Locke, 1632-1704.

• Henry Thornton and the English Bullionists

• Simon Newcomb, 1835-1909.

• Irving Fisher, 1867-1947.

• James Laurence Laughlin, 1850-1933.

• Henry C. Simons, 1899-1946.

• James W. Angell, 1898-1986.

• Jacques Leon Rueff, 1896-
• Des sciences physiques aux sciences morales, 1922.
• Théorie des phénomènes Monetaires, 1927.
• "Mr Keynes's Views on the Transfer Problem", 1929, EJ
• "L'assurance-chômage cause du chômage permanente", 1931, Revue d'econ politique
• Epitre aux dirigistes, 1949.
• "Nouvelle discussion sur la chômage, les salaires et les prix", 1951, Revue d'econ politique
• The Age of Inflation, 1963.
• Balance of Payments, 1965.
• la Reforme du systeme monetaire international, 1973.
• Politically influential French anti-Keynesian economist, with proto-Monetarist views on both the cause of  unemployment and its solution.  In particular, Rueff blamed labor unions in general -- and unemployment insurance in particular -- for the problem.   In 1929, Rueff was engaged with Keynes and Ohlin in the debate over the "transfer problem".  Called for a return to the gold standard in the post-war period.

• Lauchlin B. Currie, 1902-1993, (1)
• The Supply and Control of Money in the United States, 1934.
• Canadian-born, LSE-trained, Harvard economist and proto-Monetarist.   Currie was an advisor to F.D. Roosevelt during World War II, where he was involved with the Lend-Lease Program with China.   He was later targeted by McCarthyites, and lost his US citizenship in 1954, thereafter moving to Colombia.  

• Clark Warburton, 1896-1979.

The Monetarists of the Chicago School

• Milton Friedman, 1912-.

• Anna J. Schwartz, 1915-

• Philip Cagan, 1927-

• Edmund S. Phelps, 1933-

• Karl Brunner, 1916-

• Allan H. Meltzer, 1928-

• David E.W. Laidler, 1938-

• Harry G. Johnson, 1923-1979.

• Robert E. Lucas and New Classical Macroeconomics

Resources on Monetarism

• HET Pages: Survey of Monetarism.  See also the Neo-Keynesian World and Monetary Theory
• "The Triumph of Monetarism?" by J. Brad de Long, 1999
• "Review of Blaug et. al, The Quantity Theory of Money", by J.D. Hammond, Southern EJ
• "Early Inflation Tax Theory and Estimates" by Ephraim Kleiman, 2000, HOPE
• Group Photo with Lots of Monetarists (1986) on the occasion of Meltzer's book (by Roger Garrison)