Phylosophy Dictionary of Arguments

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Brocker I 398
Monetary policy/Friedman: According to Friedman, no monetary policy is needed to regulate international monetary relations: if exchange rates are allowed to fluctuate freely, central banks no longer have to intervene in the currency markets in order to keep the relative prices of national currencies constant. Flexible exchange rates are then adjusted in the free play of market forces in such a way that free world trade is promoted, any differences in inflation between the nation states are compensated for and no country suffers major disruptions to its international competitiveness.
In the 1960s, money supply management and flexible exchange rates were widely accepted economic policy concepts.



Peter Spahn „Milton Friedman, Kapitalismus und Freiheit“, in: Manfred Brocker (Hg.) Geschichte des politischen Denkens. Das 20. Jahrhundert. Frankfurt/M. 2018


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Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution.
The note [Author1]Vs[Author2] or [Author]Vs[term] is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.

Econ Fried I
Milton Friedman
The role of monetary policy 1968

Brocker I
Manfred Brocker
Geschichte des politischen Denkens. Das 20. Jahrhundert Frankfurt/M. 2018


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Ed. Martin Schulz, access date 2019-05-27
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