monetarism

noun

Etymology: Etymology tree English monetary Proto-Indo-European *-id- Proto-Indo-European *-yéti Proto-Indo-European *-idyéti Proto-Hellenic *-íďďō Ancient Greek -ῐ́ζω (-ĭ́zō) Proto-Indo-European *-mos Proto-Indo-European *-mós Ancient Greek -μός (-mós) Ancient Greek -ισμός (-ismós)der. English -ism English monetarism From monetary + -ism.

1. The doctrine that economic systems are controlled by variations in the supply of money.
2. The political doctrine that a nation's economy (in particular inflation) can be controlled by regulating the money supply.

   “Monetarism, you see, has two components. The first is that the central bank should try to control the money supply. In light of the Bank's report that part of the monetarist doctrine is now a dinosaur fit only to be displayed in the museum of failed economic ideas. […] Indeed, this second component of monetarism is one of the primary culprits behind the economic crisis that we have been living through for the past five years.”