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This paper critiques the Keynesian liquidity trap from an Austrian perspective. The liquidity trap theory argues that … major problem in the theory is that it concentrates on the loan interest rate instead of the price spread in the structure …
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Milton Friedman's influential 1956 restatement of the quantity theory of money, monetarism has become increasingly prominent … monetary mechanism as expounded by Friedman and his late-19th and 20th century American quantity theory predecessors; in …
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