The causal link between money growth and inflation is most closely associated with

Question

Quizplus · Accepted Answer

Friedman and Schwartz were advocates of the monetarist theory which argues that the primary cause of inflation is an increase in the money supply. They famously stated that "inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output."

The Causal Link Between Money Growth and Inflation Is Most