Category: Milton Friedman
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Tom on Tariffs
Interesting talking points from Fundstrat’s Tom Lee Thinker Are Tariffs Inherently Inflationary? Rationale Hayek Yes (systemically) Tariffs distort price signals and cause misallocation—even without broad CPI inflation Keynes Maybe (contextual) Depends on demand, employment levels, and slack capacity Friedman No (not without money growth) Only money supply growth causes sustained inflation Tom Lee No (corporate…
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What Causes Recessions
The four major theories of business cycles in relation to the Great Recession of 2008: Keynesian theory, real business-cycle theory, monetarist approaches, and the Austrian School of Economics. Each theory offers a unique perspective on the causes of the recession. Keynesian economics attributes the recession to a shortfall in aggregate demand, while real business-cycle theorists…