Essential Milton Friedman: The Theory of Money and Prices

One of Milton Friedman's keen interests as an economist was how inflation—increases in the overall price level of goods and services—affected the economy. At the heart of his theory about the cause of inflation is the relationship between money and the availability of goods and services. Watch this video to learn how Friedman's research revolutionized the way most economists think about money and inflation.

[PathfinderHistoryTravel]

Make this go viral. It needs to be taught so we hold politicians accountable and don’t repeat mistakes.

[MrWiggy]

Agree with comments re QE, which is reverse side of interest rates at 1/4 to 1/2 per cent. Only inflation since pre 2008 crisis has been entirely cost push, which Friedman never properly addressed. And constant velocity theory of circulation of money? Great mind; like to think he would have had an interesting take on 1970 to 2019. All bets off thanks to Covid.

[BK-iyjj]

good quality videos for sure, I hope there are more to come

[joemahony]

How true, increasing money devalues the currency and causes Inflation.

[GoldenRockefeller]

Money supply and available money are two different things. When it comes to inflation, there is no theoretical difference between monetary reserves (or savings) that are yet to be spent, and money that is yet to be printed. Additionally, individuals taking on credit/debt can increase the money supply in the same way that printing money can.

[aysha]

Nobody:
me: why are the scissors so expensive

[sheevamatimbas]

The Fed knows this, but got to get on with the 'Great Reset ' right Schwab

[melsolomon]

please note: The Fraser Institute is a libertarian-conservative Canadian public policy think tank and registered charity. All information must be taken with a grain of salt. Note all things they say come with their agenda.

[pensieroliberale]

This was economy B.B. (Before Bezos)

[johnnm]

As people wait for their 1400$ Stimmmmy cheques... LOL

[Kautryii]

Friedman was only partially correct...money supply does affect inflation, but so does the supply of goods, even more so than money. Money supply doesn't affect the demand for goods...that's why OPEC has to reduce production to increase the price of oil...it's not the US govt that makes the price of gas go up.

[yinyangxperience]

So why has the Fed dumped tons of money in the supply and wages have been stagnant?

[KatyDidIt]

Capitalism continuously goes thru boom and bust.

[davespanksalot]

Rumour has it that due to Friedman’s inflation his wife would charge him more money for sex because she had the limited supply and he had the inflating demand 🤣🤣🤣

[JukeboxOddities]

Hasn't this theory been debunked?

[davidkhan]

Absolute Nonsense, as money becomes more available the cost of commodities increases, the only thing that increases is Human Greed, so stop BSing people !!!🤣🤣🤣

[adamnoir]

There has been QE for years with next to no inflation. That blows theat simplistic argument in the video to pieces.

[ericphantri]

Would money increase create money jobs off set the inflatiin that is mean only if consumer are conscientiously use money as tool of production not destruction like weaponry or terrorism or hazardous condition in products or waste so two main cost factor in : private cost of produce goods and waste treatment of after life of product and the second cost is environment cost like natural resource depletion and harmful biproduct like toxic waste or air water and extreme discomfort heat or future degrading of life those two cost add up the consuming price and second price is greedy profit and opportunity cost of workers provide the services