In the 1960s,the monetarist school of thought held that

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The monetarist school of thought in the 1960s believed that efforts to fine-tune the economy through government intervention were likely to do more harm than good. They believed that the economy should be left to adjust on its own and that monetary stability was crucial for long-term economic growth. They did not support the idea of a long-run tradeoff between inflation and unemployment, nor did they believe that monetary and fiscal policy could explain most of the output fluctuations in U.S. history.

In the 1960s,the Monetarist School of Thought Held That