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Old 04-05-2004, 12:07 PM   #1
jaguar
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Join Date: Apr 2001
Posts: 5,075
Keynesian economists believe inflation can occur independently of monetary conditions.

If though, for a minute I follow the monetarists line, it has been well proven that targetting that relationship has been a failure and as I said, Milton Friedman himself agreed only last year.

Do too keep in mind there is a good reason central banks set specific inflation goals rather than zero, offical price indicies have a long history of overstating inflation and everyone prefers a touch of inflation to deflation.
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