Is Money Irrelevant?

  title={Is Money Irrelevant?},
  author={Petz Gerald and Roderick Hafer},
ANY economists recently have been claiming that money has little or no effect on inflation and economic activity. For example, Lyle E. GramIcy, past governor of the Federal Reserve Board, has been quoted as saying the relationship between growth of the economy and the growth of the morley supply is just no longer there.” Meanwhile, even a noted monetarist such as Beiyl W. Sprinkel, the current chairman of the Council of Economic Advisers, says: “It’s a problem. Nobody knows where we ai’e going… CONTINUE READING

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