Jacob Viner, Milton Friedman, and the Chicago Monetary Tradition: A Reconsideration
重新审视雅各布·维纳在1930年代初的观点,发现他与芝加哥学派核心成员在货币起源、扩张性公开市场操作、金本位、赤字融资、100%准备金、成本削减及规则与相机抉择等议题上存在根本分歧,因此维纳的观点不能代表芝加哥货币传统。
Abstract Milton Friedman claimed that Jacob Viner's views in the early 1930s on (a) the monetary origins of the Great Depression and (b) the need of expansionary open-market operations established a linkage between the 1930s Chicago monetary tradition and Friedman's monetarist economics. I show that Viner's views on those issues and on such issues as the retention of the gold standard, money-financed versus bond-financed deficits, 100 percent reserves, the usefulness of cost cutting to combat the Depression, and rules-versus-discretion differed fundamentally from a core group of Chicagoans. I conclude that Viner's views were not representative of the Chicago tradition.