The paper is concerned with the economic theory of Milton Friedman. First part outlines the life of Milton Friedman …. Second part examines his economic theory – “Essays in Positive Economics” (1953), “Studies in the Quantity Theory of Money …“ (1956), „A Theory of the Consumption Function“ (1957), „A Program for Monetary Stability“ (1959), „A Monetary History of the …

measures have also loomed over the global recession. This paper highlights the theoretical fallacies of monetarism and analyzes …

unequivocal terms that Monetarism offers an implausible solution to the most pervasive economic problems. He confronts the central … issue of current economic theory by making the case that the growth of the money supply is not a necessary cause of … inflation, as the Monetarists have assumed. And he contends that inflation is in any case not the overwhelming satanic force …

eventually adopted in the early 1970s. Instead, a Walrasian development of monetarism, namely new- classical macroeconomics …. Even so, Leijonhufvud's subsequent work on the costs of inflation had an important influence in establishing this …

while using redefined monetary aggregates. It is found that neither the velocity of money nor the character of inflation in … the Czech Republic is in contradiction with monetarist theory. Relationship between M1 and M2 on one side and domestic … nominal changes between inflation and real changes is shortly mentioned. …

inflation levels. The paper identifies four broad principles of central bank autonomy that have been shared by the majority of …

fiscal theory of the price level, but we do not find supportive evidence. The results suggest that the risk of a debt-inflation … predictions of a forward-looking model of inflation. Wealth effects of public debt could also affect inflation, as posited by the … inflation. …

-2002, when flotation of the peso and inflation targeting were adopted. We argue, first, in favor of adopting "operational … inflation target ranges" and, second, in favor of strengthening the current scheme of foreign exchange options. The impact of …

. It is then argued that, whereas Monetarism brought about a revival of the quantity theory of money from the limbo into … which Keynesianism had pushed it, RE-NC modelling was responsible for that theory’s most recent disappearance. This happened … despite the fact that, initially, RE-NC economics appeared to be a mainly technical extension and refinement of Monetarism …