monetarist

The monetarist theory--now the dominant theory of monetary policy--is that one of the biggest, most economically important features of a recession is a flight to liquidity.

Does the Monetarist approach that unemployment is caused by high inflation and decreased investment sound more likely?

That simple fact that is true whether or not you agree with the rest of Keynesian or Monetarist economics.

Another, perhaps even stronger, point is that the monetarist experiment of the 1970s and 80s failed badly, in the following sense.

The fundamental issue of austerity under market monetarist thinking is that of monetary offset.

Some people are monetarist, some people are not, and central bank policies shift from country to country and from generation to generation.

You do not have to be monetarist expert to see the glaring anomaly.

All of Keynesian and monetarist economics is predicated on the idea that people are ignorant of real prices and focus on nominal prices.

I would consider him more a monetarist than libertarian/Austrian (in fact, he specifically disavows the Austrian view of money).

See Mankiw's recent remarks on negative interest rates, which are all consistent with the mainstream monetarist theories that underly our use of fiat currency, etc.

Nearly the entire universe of modern academic economics rests on the Keynesian and/or Monetarist foundation that increasing money supply (thus inflation) is a good thing.

The fact that Krugman does not address this explicitly is one of the best demonstrations of his unwillingness to intellectually engage with his market monetarist opponents.

But the basic place where it disagrees with Keynes is that it adopts the old-time monetarist view that printing money always "debases" the currency.

I'd also recommend Friedman's "A Monetary History of the United States" (with a part about the Great Depression) for a Monetarist POV.

I would also like to see a breakdown of the study's economic professors based on the different "schools" of economics, roughly (and presumably self-identified): Chartalist, Keynesian, Monetarist, Austrian.

"Nearly the entire universe of modern academic economics rests on the Keynesian and/or Monetarist foundation that increasing money supply (thus inflation) is a good thing." Imagine my shock that user jstalin is a monatery crank.

If we need stimulus, increasing wages is a bad idea according to all mainstream economic theories (Keynesian, Monetarist, Structuralist).

First, the Keynesian/Monetarist Block does emphatically not claim that inflation is good, since last time I checked ethics was not a sub-field of economics.