Friday, 5 April 2013

Warren Mosler composes a variation on a Milton Friedman theme.

Friedman said, “Inflation is everywhere and always and monetary phenomenon.”

And Warren Mosler said recently, “Unemployment is everywhere and always a monetary phenomenon.”

Of course you can’t sum up complex issues like inflation or unemployment in eight words, as is attempted in the above two sentences. But  in as far as it’s possible to cram a truism into very few words, I like both the original theme and the variation.

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