An initial 'Keynesian illness'? Friedman on taxation and the inflationary gap

Levrero, Enrico Sergio (2015): An initial 'Keynesian illness'? Friedman on taxation and the inflationary gap.

Abstract

This paper examines Friedman’s writings in the years 1941-1943 and compares them with those after the war with a view to assessing differences and similarities. Albeit a first assessment, Friedman’s “Keynesian illness” in his ‘Washington phase’ will appear to have been less ‘serious’ and deep than he himself feared.

• Item Type: MPRA Paper
• Language: English
• Keywords: Friedman; inflationary gap; price inflation; spending tax; quantity theory of money
• Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B2 - History of Economic Thought since 1925 > B22 - Macroeconomics; B - History of Economic Thought, Methodology, and Heterodox Approaches > B3 - History of Economic Thought: Individuals > B31 - Individuals; E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E31 - Price Level ; Inflation ; Deflation; E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E51 - Money Supply ; Credit ; Money Multipliers

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