The Scourge of Monetarism, Part 1

additional amount assets authorities average balance bank billions bills borrowing cash cause cent Central changes circulation clearing Committee commodities competitive consequence cost countries debt definition demand depends deposits determined economic effect employment evidence excess exchange rate existence expectations fact fall figures followed funds given gold Government growth held higher hold imports income increase individuals industrial inflation institutions interest rates interest-bearing issues Italy labour latter lending less liquidity lower maintained manufacturing means measures monetarist monetary money stock money supply operation output payments percentage period position present private sector production profits PSBR public sector quantity question rate of interest ratio reason reduction relation result rise savings securities short shown Statistics Table theory tion Treasury turn United Kingdom wages yield