Abstract

RAVIER, Adrián O. LA NO NEUTRALIDAD DEL DINERO EN EL LARGO PLAZO: UN DEBATE ENTRE CHICAGO Y VIENA. Cuad. Econ. [online]. 2010, vol.29, n.52, pp.1-19. ISSN 0121-4772.

There are many convergences between economists from Chicago and Vienna with regard to understanding the functioning of markets and public policies, and to the rejection of interventionism, socialism, and totalitarianism. However, with regard to macroeconomic topics, and in particular to monetary policy and the neutrality or nonneutrality of its effects in the long term, substantial differences appear. This article reviews the debate between these two schools of thought, based on a critique elaborated by Dr. Humphrey in 1984. The relevance of discussing this writing 25 years after its publication consists of reconsidering a debate that has remained forgotten since then.

Keywords : Austrian School; Chicago School; comparative economics; monetary economics; monetary policy; nonneutrality of money.

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