Finíssima ironia…

Um texto maravilhoso de Nick Rowe (aqui):

Monetarism: the hegemony that need not speak its name

Fish don’t feel the water they swim in. (I’ve heard that’s false, but it’s too good to check). Paul Krugman does not feel the Monetarist hegemony he swims in. The only part of Monetarism that he does feel, and that he now identifies with Monetarism, is that one small part of Monetarism that failed to achieve hegemonic status. Milton Friedman in 1970’s believed that M2 growth ought to be kept small and constant – the k% rule. Milton Friedman lost that battle. But he won every other battle. He won the war.

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