A Program for Monetary Stability
"[T]he only really sure way to beat inflation is to cut off inflation at the root. . . Milton Friedman [presents his strategy against] inflation in his penetrating . . . book . . . This is controversial stuff, and Professor Friedman . . . doesn't blanch at what he feels is his call of duty. And many a banker will just see red . . . [This book] can be recommended for a good look at the real roots of inflation--the look that thus far has not been widespread enough, among enough people."--The Wall Street Journal
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achieve action activity actual additional adopted alternative amount arrangements assets authorities avoid balances bills borrowing changes chapter clear commercial banks commodity continue contraction cost countries course currency debt decline demand deposits desirable determined direct discount rate dollar early economic effect eliminated excess exchange factors failure Federal Reserve System fixed followed foreign give gold governmental growth hence high-powered money hold important increase individual instability interest internal involve issue less limit major means member banks ment monetary policy money supply months movements notes objectives offset open market operations payments period practice present price level problem produced proposed purchase ratio reason rediscounting reduce reform relative render reserve requirements respect responsibility result rise rule securities seems sell stability standard stock of money suggested technical tion Treasury United widely World
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