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No macroeconomics or monetary theory course is complete without introduction of the Equation of Exchange, or MV = PQ. However, this equation explains nothing,...
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Perhaps John Maynard Keynes’ best con job was convincing people that a growing economy needs inflation, lots of inflation. As David Gordon points out,...
No macroeconomics or monetary theory course is complete without introduction of the Equation of Exchange, or MV = PQ. However, this equation explains nothing,...