Milton Friedman explains Monetary Inflation to Adam

From Pandora's Box Episode 3

By the mid-1970s, stagflation emerged in Great Britain to confound the Keynesian theories used by policy makers. Meanwhile, a group of economists had managed to convince Margaret Thatcher, Keith Joseph and other British politicians that they had foolproof technical means to make Britain 'great' again. The stagflation of the 1970s catapulted the then obscure economic theory of Monetarism to the forefront of political thought. By the late 1970s Milton Friedman had been awarded the Nobel Prize in Economics and even some Labour politicians were claiming that government attempts to grow the economy by injecting capital was doing more harm than good by driving up inflation.

[BOZ_]

well, he's wrong, since the fiscal deficit shrank massively post covid and prices rose tremendously. M2 shrank, prices went up. Sorry baldy