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If I understand Michael Ambrosi's question, he is inquiring where Friedman 
states his argument that monetary authorities (central banks) should follow 
a rule (such as a price level rule or a money growth rule) rather than 
being given the discretionary power to conduct monetary policy as they see 
fit. There are many places where Friedman makes this argument, but it is 
certainly repeated in almost every major work he wrote in monetary 
economics. Two easily accessible places in whcih he made the argument are 
in chapter three of _Capitalism and Freedom_(1962) entitled "The Control of 
Money" (see especially the final section, entitled "Rules Instead of 
Authorities") and his presidential address to the American Economic 
Association, "The Role of Monetary Policy" (AER, March 1968). 
 
Bradley Bateman 
 
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