The U.K. 1978-82 “monetarist experiment”: why economists still disagree

Authors

  • N.M. HEALEY

DOI:

https://doi.org/10.13133/2037-3643/11102

Keywords:

Limitations of empirical research, monetarist experiment, interpretations

Abstract

The reasons why economists disagree are complex. This paper is a case study in the limitations of empirical research as a means of resolving these differences. It reviews the evidence generated by the 1979-82 monetarist experiment and reveals the strategies different schools of thought have employed to construct radically different interpretations of events. Contrary to to Friedman’s famous dictum that “the differences between economists are empirical rather than theoretical”, this paper concludes that economists are divided by issues that run far deeper.

 

JEL: N14

Downloads

Published

2013-11-23

How to Cite

HEALEY, N. (2013). The U.K. 1978-82 “monetarist experiment”: why economists still disagree. PSL Quarterly Review, 40(163). https://doi.org/10.13133/2037-3643/11102

Issue

Vol. 40 No. 163 (1987)

Section

Editorial

License

 
 
Licenza Creative Commons
 
All material in this website and every article published by the Review are licensed under a Creative Commons Attribution - Non commercial - No derivates 4.0 International license.
The authors who publish on this journal maintain all rights on their works without any restrictions.