Friedman
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•@meta if policymakers had acted according to Friedman, we would have had a new financial crisis during Corona. Some say it would have cleaned up the inflated markets. We certainly wouldn't have had such a rapid recovery on the stock market either. But inflation would probably not have been so high now. However, the effects would have been enormous (mass unemployment, etc). According to Friedman, demand and supply recover automatically over time. One should not intervene, certainly not the state. I suspect, however, that we would have had a long recession until supply and demand would have recovered (through re-employment). It's simply a matter of long-term self-healing.
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•Deleted User
2Yr
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@meta classic example: Short-time work would not have existed under Friedman. As a result, we would have had mass unemployment. But that would only be one aspect. All the money pumping would not have been possible either. They also tried to keep demand high and thus followed MMT/Keynes.
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Who would have thought...a small Friedman crowd
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