
Vice President JD Vance attended an AI summit in France, where he emphasized the Trump administration’s commitment to American technological leadership in AI. Newt’s guest…
Thought Leader: Newt Gingrich
By Niall Ferguson
“Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.” It was in a lecture delivered in London in 1970 that Milton Friedman uttered those famous words, the credo of monetarism. Over the previous five years, inflation in most countries had been on the rise.
In the first half of the 1960s, U.S. consumer prices had never gone up by more than 2% in any 12-month period. The average inflation rate from January 1960 until December 1965 had been just 1.3%. But thereafter it moved upward in two jumps, reaching 3.8% in October 1966 and 6.4% in February 1970.
For Friedman, this had been the more or less inevitable consequence of allowing the money supply to grow too rapidly. The monetary aggregate known as M2 (cash in public hands, plus checking and savings accounts, as well as money market funds) grew at an average annual rate of 7% throughout the 1960s. Moreover, as Friedman pointed out in his lecture, the velocity of circulation had not moved in the opposite direction….
Vice President JD Vance attended an AI summit in France, where he emphasized the Trump administration’s commitment to American technological leadership in AI. Newt’s guest…
Thought Leader: Newt Gingrich
Matt Britton: Next-Gen Intelligence – Lenovo’s Emily Ketchen on the Tech Revolution You Can’t Ignore
In this episode of The Speed of Culture Podcast, Matt Britton chats with Emily Ketchen, VP & CMO of Intelligent Devices Group and International Markets…
Thought Leader: Matt Britton
Newt Gingrich: Trump Tax Cuts vs. a Congressional Tax Increase
Members of Congress seeking to delay or stop a Big, Beautiful Bill of tax cuts, energy improvements, deregulation, economic growth, and better affordability are risking…
Thought Leader: Newt Gingrich