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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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