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Comments on: Bernanke is not rejecting Friedman http://www.tvhe.co.nz/2009/04/15/bernanke-is-not-rejecting-friedman/ The Visible Hand in Economics Wed, 15 Apr 2009 10:37:45 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Matt Nolan http://www.tvhe.co.nz/2009/04/15/bernanke-is-not-rejecting-friedman/#comment-19010 Wed, 15 Apr 2009 10:37:45 +0000 http://www.tvhe.co.nz/?p=3589#comment-19010 @Stephen Kirchner

Good point. I should have said it was a technological and state dependent constant – that isn’t really much of a constant I guess, but I was always told to call it a technologically determined constant so I’m stuck to it 🙂

]]> By: Stephen Kirchner http://www.tvhe.co.nz/2009/04/15/bernanke-is-not-rejecting-friedman/#comment-18979 Wed, 15 Apr 2009 01:56:32 +0000 http://www.tvhe.co.nz/?p=3589#comment-18979 Well said. Friedman explicitly advocated debt monetisation for Japan in the 1990s.

Friedman would not say that velocity is literally constant, but rather that it is a stable function of other variables.

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