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Date: | Fri Mar 31 17:18:23 2006 |
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----------------- HES POSTING -----------------
In a 1977 paper in the AER, Franco Modigliani wrote:
"Milton Friedman was once quoted as saying "We are all Keynesians, now,"
and I am quite prepared to reciprocate that "we are all monetarists"--if by
monetarism is meant assigning to the stock of money a major role in
determining output and prices."
Franco Modigliani, 1977, "The Monetarist Controversy or, Should We Forsake
Stabilization Policies?," American Economic Review, Vol. 67, No. 2.(Mar.,
1977), pp. 1-19.
Could be the newspaper article someone else mentioned refers to this, could
be a coincidence. I'm not sure if this is the earliest case, but it is the
earliest one I found so far.
Mat Forstater
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