货币主义

貨幣主義源起於米爾頓·傅利曼與安娜·施瓦茨合著的《美國貨幣史》，并指出“通货膨胀永远是无处不在的货币现象。”他批评美国政府当时採用的凱因斯主義和約翰·梅納德·凱因斯基于政府干预的理论。他长期批评美國聯邦準備理事會在货币政策，认为美联储的货币紧缩政策是大萧条的主要原因，而發行過多货币造成了70年代的通貨膨胀。弗里德曼贊成中央银行透过统计國家生产力的狀況和需求，来訂定讓货币供需平衡的货币政策。

米爾頓·傅利曼認為：「通貨膨脹在任何時間、任何地點都是因为發行過多貨幣。」所谓“结构性通胀”、“输入型通胀”都是无稽之谈。中央銀行的貨幣发行过多则造成通货膨胀，过少則造成通货紧缩。貨幣主義認為，在短期，貨幣供給的變動雖然能夠影響實際經濟狀況，例如就業；但在長期，它能影響到的只有通貨膨脹。主张货币发行量的成長率要保持一个固定的速度，让经济中的个体对通货膨胀有完全的预期能力，这种货币机制被称为弗里德曼规则。

貨幣主義在提出之初並不受重視，直到柴契爾夫人在英國採用貨幣主義政策，使英國經濟成功復甦，貨幣主義政策開始受到各國重視，使得各國中央銀行政策逐漸偏向貨幣主義，取代凱恩斯主義的地位。

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• 货币主义的价格理论