Jump to ContentJump to Main Navigation
Remembering Inflation$
Users without a subscription are not able to see the full content.

Brigitte Granville

Print publication date: 2013

Print ISBN-13: 9780691145402

Published to Princeton Scholarship Online: October 2017

DOI: 10.23943/princeton/9780691145402.001.0001

Show Summary Details
Page of

PRINTED FROM PRINCETON SCHOLARSHIP ONLINE (www.princeton.universitypressscholarship.com). (c) Copyright Princeton University Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in PRSO for personal use.date: 05 July 2022

The End of a Mirage

The End of a Mirage

More Money Increases Inflation but Not Employment

(p.1) Chapter 1 The End of a Mirage
Remembering Inflation

Brigitte Granville

Princeton University Press

This chapter describes the learning trajectory that led economists and policymakers to regard controlling inflation as a priority and to pursue this goal of greater price stability more effectively. It focuses on one particular episode in the history of macroeconomic controversy—namely, how a set of economic ideas shifted the general conduct of monetary policy that had prevailed since John Hicks's interpretation (1937) of John Maynard Keynes' The General Theory of Employment, Interest and Money (1936). This “new” thinking about inflation and monetary policy reacted against the contemporary orthodoxy because the prevailing theory had proved to be unsatisfactory in analyzing the changing nature of the economy.

Keywords:   economists, inflation control, macroeconomic policy, price stability, economic theory, monetary policy

Princeton Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us.