monetarism
nounEtymology From monetary + -ism.
1
Economics, Sciences The doctrine that economic systems are controlled by variations in the supply of money.
2
Economics, Sciences The political doctrine that a nation's economy (in particular inflation) can be controlled by regulating the money supply.
- Monetarism, you see, has two components. The first is that the central bank should try to control the money supply. In light of the Bank's report that part of the monetarist doctrine is now a dinosaur fit only to be displayed in the museum of failed economic ideas. […] Indeed, this second component of monetarism is one of the primary culprits behind the economic crisis that we have been living through for the past five years.2014 March 22, Philip Pilkington, “Monetarism is the living dead of economic theory – let's kill it off”, in The Guardian, →ISSN, archived from the original on 19 Aug 2019: