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During the late-1940s and the early-1950s Milton Friedman favored a rule under which fiscal policy would be used to generate changes in the money supply with the aim of stabilizing output at full employment. He believed that the economy is inherently unstable because of endogenous movements in...
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-1936 from when he worked on A Treatise on Money to the completion of his General Theory. The forced saving notion has been … demand in the General Theory and its process. I provide evidence suggesting that the development of the General Theory is … Fundamental Equations and subsequent theory of effective demand in the explanation of the problem of unemployment. …
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