Milton Friedman on the Ineffectiveness of Fiscal Policy

4 Pages Posted: 9 Mar 2011

See all articles by Tim Congdon

Tim Congdon

Institute of Economic Affairs (IEA)

Date Written: March 8, 2011

Abstract

This article examines the evolution of the views of Milton Friedman on the (lack of) effectiveness of fiscal policy as compared with monetary policy. Though his views changed, it would not be accurate to say that he began as a naïve Keynesian. The empirical evidence bears out Friedman's later views.

Keywords: Fiscal policy, Friedman, Keynes, monetary policy

Suggested Citation

Congdon, Tim, Milton Friedman on the Ineffectiveness of Fiscal Policy (March 8, 2011). Economic Affairs, Vol. 31, Issue 1, pp. 62-65, 2011, Available at SSRN: https://ssrn.com/abstract=1781539 or http://dx.doi.org/10.1111/j.1468-0270.2010.02051.x

Tim Congdon (Contact Author)

Institute of Economic Affairs (IEA) ( email )

2 Lord North Street
London SW1P 3LB
United Kingdom

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