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 …

eventually adopted in the early 1970s. Instead, a Walrasian development of monetarism, namely new- classical macroeconomics …

. 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 …

traditional approach to the theory of money that stresses its means of exchange role. It suggests that, though there are … for monetary theory per se, and for the discussion of currently relevant monetary policy questions. It concludes that the …

unemployment and stagnating growth by 1970, called stagflation. Since 1970 governments redressed the welfare state but did not … Keynesianism first to monetarism and then to neoliberalism, and now ‘muddling through’. The deregulation of financial markets …

Unemployment in Germany strongly increased in 2005. Beside other influences a labor market reform that came into force … in 2005 (Hartz IV reform) was ascribed to redistribute hidden to open unemployment. Using different methodological … approaches and data sets this article analyses the scale of this change from hidden to open unemployment in West Germany. Yet …