Friedman believed that ``a volunteer army , freely floating exchange rates , abolition of the medical license , negative income tax , and education vouchers ' were worth fighting for (par . 5 ) Monetarism . Friedman believed that price level is dependent on the supply of money (par . 6 ) He firmly insisted that an increase in money supply also causes and increase in unemployment and outputs and vice versa . He used the ill-conceived monetary policies of the Federal Reserve during the Great Depression to stress his theory...











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