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The Review of Austrian Economics

, Volume 28, Issue 1, pp 107–113 | Cite as

Marcus Nunes and Benjamin Cole: Market monetarism: Roadmap to economic prosperity

Self-published, 2013. viii + 115 Pages. USD 6.99 (Kindle)
  • Alexander Salter
Article
  • 132 Downloads

Market Monetarism: Roadmap to Economic Prosperity is a re-examination of post-World War II economic history, focused mainly on the United States but also including cases such as the infamous Japanese “Lost Decade,” from an explicitly Market Monetarist perspective. The rise of the Market Monetarist School is a recent phenomenon, coming to prominence mainly through debate in the blogosphere rather than academic conversation in the scholarly journals. Famous for its insistence that (1) nominal spending, meaning nominal gross domestic product (NGDP), is the crucial variable determining macroeconomic stability and thus (2) central banks ought to implement an NGDP level target, Nunes and Cole adopt this framework to shed light on the causes of macroeconomic fluctuations up to and including the Great Recession.1The book is written to be intelligible to those with only a minimal familiarity with modern macroeconomic theory, through an understanding of Aggregate Supply/Aggregate Demand...

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Copyright information

© Springer Science+Business Media New York 2013

Authors and Affiliations

  1. 1.Department of Economics, MSN 3G4George Mason UniversityFairfaxUSA

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