“Analysis of the supply of money, and in particular of changes in the supply of money, is simple in principle but extremely complex in practice, both in our hypothetical world and in the current real world. Simple in principle, because the supply of money is whatever the monetary authorities make if, complex in practice, because the decisions of the monetary authorities depend on numerous factors.”

Source: Money Mischief (1992), Ch. 2 The Mystery of Money

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Milton Friedman158

American economist, statistician, and writer 1912–2006

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Source: Money Mischief (1992), Ch. 2 The Mystery of Money