Modern macroeconomics and its evolution from a monetarist perspective

Brian Snowdon (University of Northumbria, UK)
Howard R. Vane (Liverpool John Moores University, UK)

Journal of Economic Studies

ISSN: 0144-3585

Publication date: 1 August 1997


An interview with Milton Friedman in 1996 ‐ presents his reflections on some of the important issues surrounding the evolution of, and currrent debates within, modern macroeconomics. A world‐renowned economist and prolific author since the 1930s, Milton Friedman has had a considerable impact on macroeconomic theory and policy making. Associated mostly with monetarism and the efficacy of free markets, his work has ranged over a broader area ‐ microeconomics, methodology, consumption function, applied statistics, international economics, monetary theory, history and policy, business cycles and inflation. In the interview discusses Keynes’s General Theory, monetarism, new classical macroeconomics, methodology, economic policy, European union and the monetarist counter‐revolution.



Snowdon, B. and Vane, H. (1997), "Modern macroeconomics and its evolution from a monetarist perspective", Journal of Economic Studies, Vol. 24 No. 4, pp. 191-221.

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Copyright © 1997, MCB UP Limited

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