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[NOTE: This DISC thread is related to the QUERY thread on "Friedman on 
central bank autonomy." I have separated this DISC because Robert seems to 
launch a new discussion. - RBE] 
 
 
Brad Bateman recently wrote on this list: "Perhaps what we need now is an 
international study group on the rise and fall of monetarism? There are 
many important questions and issues that simply have not been asked, much 
less answered". 
 
Excellent suggestion.  Four areas of investigation jump to mind 
 
1. an oral history-style series of interviews with the prominent academics 
of monetarism  
2. an investigation of how and why Milton Friedman began, around 1951, to 
use the quantity theory for explicitly anti-Keynesian purposes 
3. an investigation of the Keynesian early, middle and late response to the 
monetarist challenge 
4. an investigation of the process by which monetarist ideas permeated the 
policy marketplace (in The Rise and Fall of Monetarism, David Smith made a 
start with respect to Britain). 
 
Perhaps we need a group to organise a conference (and seek funding from 
various central banks). 
 
Robert Leeson     
Murdoch University 
 
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