Scott Sumner in an answer to me on his blog explains the difference between “old-style” monetarism and Market Monetarism:
“I think there is one significant difference. They relied on M2, we rely on market indicators.”
I think Scott is basically right – I wonder what other Market Monetarists think.
Benjamin Cole
/ October 4, 2011I like Scott’s take. I love the “market monetarists” handle, a great name. Keep getting your view out there, and let’s all keep refining and improving our presentations.
We have the best idea. Now we need the best language, PR etc.