Quantity theory of money | Wikipedia audio article
Channel: Subhajit Sahu
Date: 2018-12-28

This is an audio version of the Wikipedia Article:
https://en.wikipedia.org/wiki/Quantity_theory_of_money


00:00:47 1 Origins and development
00:12:22 2 Fisher's equation of exchange
00:17:52 3 Cambridge approach
00:19:57 4 Evidence
00:22:09 4.1 Principles
00:22:52 4.2 Decline of money-supply targeting
00:24:23 5 Criticisms
00:25:15 6 See also
00:25:24 6.1 Alternative theories



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SUMMARY
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In monetary economics, the quantity theory of money (QTM) states that the general price level of goods and services is directly proportional to the amount of money in circulation, or money supply.The theory was challenged by Keynesian economics, but updated and reinvigorated by the monetarist school of economics. While mainstream economists agree that the quantity theory holds true in the long run, there is still disagreement about its applicability in the short run.  Critics of the theory argue that money velocity is not stable and, in the short-run, prices are sticky, so the direct relationship between money supply and price level does not hold.
Alternative theories include the real bills doctrine and the more recent fiscal theory of the price level.