Monetarism: economic analysis or Weltanschauung?

Authors

  • T. MAYER

DOI:

https://doi.org/10.13133/2037-3643/11526

Keywords:

Economic ideology, Weltanschauung, monetarism, economic analysis

Abstract

Economic doctrines constitute both economic analysis and a Weltanschauung or ideology. In this paper the author seeks to separate the components of monetarism into those that are economic analysis and those that represent a broader Weltanschauung. Separating the disagreements about various monetarist propositions into issues of economic analysis, suppositions and issues of Weltanschauung is useful because it sorts out those issues on which economists can make a claim to special expertise from those for which this claim is not justified. The author takes twelve propositions that characterise American domestic monetarism and discusses the extent to which each one has the characteristics of a Weltanschauung rather than an economic supposition or an issue of narrow economic analysis.

 

JEL: E50, E52, E58

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Published

2014-01-04

How to Cite

MAYER, T. (2014). Monetarism: economic analysis or Weltanschauung?. PSL Quarterly Review, 31(126). https://doi.org/10.13133/2037-3643/11526

Issue

Vol. 31 No. 126 (1978)

Section

Editorial

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