July 31 marks the centenary of the birth of the high priest of monetarism, Milton Friedman.
Wapshott gives us no less than Milton Friedman, the father of monetarism, claiming himself something of an heir to Keynes.
The economic doctrine that the supply of money has a major impact on a nation's economic growth. For example, monetarists prefer to control inflation by restricting the growth of a nation's money supply rather than by raising taxes. The doctrine is associated with Milton Friedman.