monetarist

“In May 1979 Margaret Thatcher became prime minister promising to end the inflation that had plagued the country for nearly a decade, by imposing heavy restrictions on the growth of the money supply. Over the next five years, monetarist policies succeeded in plunging the British economy into the deepest recession it had seen since the great depression. […] Fast forward to March 2014, and the Bank of England has begun to bury its monetarist legacy.”