----------------- HES POSTING ----------------- 
 
"Too much money" and "the dollar is losing value"! Those are the typical 
responses I get whenever I ask beginning econ students: "What is inflation 
and what is its cause?" 
 
So what do we mean by the "rise and fall of monetarism"?  I think we need 
to define what we mean by the term "monetarism" and in what form did this 
ever rise and fall. I think the situation with respect neoclassical 
monetary theory and academia, for example, is somewhat akin to the fate of 
the Latin language, that is, it never died, but rather it just fell out of 
fashion. After Keynes, as instructors began to believe that good 
macroeconomics only required some knowledge about the basic Keynesian 
"toolkit", they stopped using the old monetarist models.  
 
I've noticed that outside of academia, however, the relationship between 
money and prices is as strong as ever in the minds of the general public 
and persons engaged in business. 
 
Chas Anderson 
 
------------ FOOTER TO HES POSTING ------------ 
For information, send the message "info HES" to [log in to unmask]