Xa uMilton Friedman kunye neMonetarist bebethelwa
I-Monetarists ilumkisa ukuba ukwandiswa kwemali kunika kuphela ukukhulisa okwethutyana ukukhula koqoqosho kunye nokudala imisebenzi. Emva kwexesha elide, liya kwandisa intengo . Njengoko iimfuno eziphuma ngaphandle, ixabiso liya kuphakama.
I-Monetarists ikholelwa ukuba umgaqo-nkqubo wezemali usebenza ngakumbi kunomgaqo-nkqubo wezemali . Leyo yinkcitho karhulumente kunye nenqubomgomo yerhafu. Ukusetyenziswa kwemali yokunyusa kubangela imali yokunikezelwa kwemali, kodwa kubangela ukungaphumeleli. Oku kwongeza kwityala elilawulayo lelizwe. Oku kuya kukwandisa izinga lentengo. I-Monetarists ithi iibhanki eziphambili zinamandla kunekarhulumente kuba zilawula ukunikezelwa kwemali.
I-Monetarists ijonge ukunyuka kwamaxabiso okwenene kunokuba i-rates yexabiso. Amanqanaba amaninzi ashicilelwe amaxabiso okutyunjwa. Ixabiso langempela lisusa imiphumo yokunyuka kwamaxabiso . Banikela umfanekiso we-truer weendleko zemali.
Namhlanje, i-monetarism ayifuni. Kungenxa yokuba ukubonelela ngemali kuyimilinganiselo engaphantsi yobuncwane kunexesha elidlulileyo. Ubutyebi buquka imali, imali kunye nemali yemali . INgxowa-mali iquka imali-mboleko, izibophelelo kunye nemali-mboleko. Kodwa ukubonelelwa ngemali akulinganisi ezinye iimpahla, ezifana nezitoko , iimpahla kunye nokulingana kwamakhaya.
Abantu banako ukugcina imali kwimarike yemasheya njengemalike yemali. Bafumana ukubuya okungcono.
Oko kuthetha ukuba ukubonelelwa ngemali akulinganisi ezi zinto. Ukuba imarike yemasheya iphakama, abantu bazizwa bezityebi. Bazimisele ukuchitha. Oku kwandisa imfuno kunye nokwandisa uqoqosho. Ezi mpahla zenze iibhoom ezibangelwa yiFed.
Bakhokelela ekutyekeni kwe- 2001 kunye neRest Recession .
Ingaba isebenza kanjani?
Xa imali yongezwa, iyanciphisa ixabiso lentengo, kuba iibhanki zininzi ezandleni zokuboleka, ngoko zikulungele ukuhlawula irhafu ephantsi. Oko kuthetha ukuba abathengi baboleka ngaphezulu ukuba bathenge izinto ezinkulu zetikiti ezifana nezindlu, iimoto kunye nefenitshala. Ukunciphisa imali yokubonelela ngemali kuphakamisa amazinga omdla, ukwenza iimali mboleko ezibizayo nokunciphisa ukukhula koqoqosho.
EUnited States, i- Federal Reserve ilawula ukunikezwa ngemali ngexabiso lokunyusa imali . Eli lizinga elijoliswe kuko iFed isetyenziselwa ibhanki ukuba ityala omnye nomnye ukugcina imali engaphezu kwemali ngobusuku bonke kwaye ifuthe zonke ezinye iirhafu. I-Fed isebenzisa ezinye izixhobo zemali , ezifana nesimfuneko sokugcina , esichazela ibhanki ukuba yimalini yabo kufuneka ibe nayo kubusuku bonke.
I-Fed iyanciphisa ukunyuka kwamaxabiso ngokunyusa izinga lokuxhaswa kwemali okanye ukunciphisa ukunikezelwa kwemali. Oku kwaziwa ngokuba ngumgaqo-mali wezemali . Nangona kunjalo, i-Fed kufuneka iqaphele ukuba ingagcini umnotho kwilizwe. Ukuze ugweme ukunyuka kwemali, kunye nokungabikho kwemisebenzi, i-Fed kufuneka inciphise izinga lokunyusa imali kunye nokwandisa imali yokunikezelwa kwemali. Oku kwaziwa ngokuba ngumgaqo-mali wezongeziweyo .
UMilton Friedman NguYise weMonetarism
UMilton Friedman wadala inkolelo ye-monetarism kwi- adresi yakhe ye- 1967 kwi-American Economic Association .
Wathi i-antidote yexabiso lokunyuka kwamaxabiso yayinani lentlawulo ephezulu. Oku kuya kunciphisa imali yokubonelela ngemali. Amaxabiso aya kufuneka awele njengoko abantu benemali encinane yokuchitha.
UMilton waxwayisa ngokunyusa ukunyuka kwemali ngokukhawuleza. Oku kuya kubangela ukunyuka kwamaxabiso. Kodwa ukwanda kwenyuka kuyimfuneko ukukhusela izinga eliphezulu lokungasebenzi . Ukuba ukuphathwa ngokufanelekileyo kulawulwa kakuhle kwemali kuza kudala uqoqosho lwe-Goldilocks . Oku kungaphantsi kwemisebenzi kunye nezinga elimkelekileyo lokunyuka kwamaxabiso.
UFriedman wathi iFed for the Great Depression . Uthe i-Fed yaqinisa umnini-mali xa bekufuneka uyikhulule. I-Fed yaphakamisa amaxabiso enzala ukwenzela ukukhusela ixabiso le dollar . Kwakumanzi njengoko abantu behlenga imali yabo yephepha ngegolide. Ngaloo xesha, iUnited States yayisemgangathweni wegolide . Ngokunyusa amaxabiso, iFed yenza imali ebolekayo yokufumana imali.
Oku kwandisa ukwanda kweemali kwixinzelelo.
U mzekelo
USihlalo we-Federal Reserve uPaul Volcker wasebenzisa i-monetarism ekupheleni kwe- stagflation . Wakhuphula isantya semali esondayo kuma-20 ekhulwini ngo-1980. Kodwa kwakukho indleko ephezulu. Yadala u-1980-82.
Usihlalo we-Fed uBen Bernanke wavumelana nesiluleko sikaMilton sokuba iFed ihlakulele ukunyuka kwamaxabiso. Wayengowesihlalo sokuqala se-Fed ukubeka ithagethi yokunyuka kwamaxabiso e-2% ngonyaka. Leyo yintengo yexabiso lokunyuka kwexabiso elithintela i-gesi eninzi kunye nezokutya . (Imithombo: Inkcazo yeMali yeStagflation enkulu yama-1970, "UNBER, ngoFebruwari 2000." I-Monetarism, "i-Econlib." UMilton Friedman, "u-Econlib.)