The best known advocate for rules is Nobel-laureate ___________, who suggested that the money supply should grow at a steady publicly-stated rate.

Question

Quizplus · Accepted Answer

The mention of a Nobel-laureate and the suggestion of a steady money supply growth rate points to Milton Friedman, who was a strong advocate for rules-based monetary policy. Phil Gramm and John Snow are politicians without a background in economics, and Alan Greenspan, while influential in the Federal Reserve, did not advocate for a strict rules-based approach like Friedman.

The Best Known Advocate for Rules Is Nobel-Laureate ___________, Who