Lex Fridman Podcast
#457 – Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom
Jennifer Burns
You know, like when traveler's checks are introduced, this is like a big deal. So we have a much, a very simple monetary system. And so Schwartz and Milton Friedman start measuring what they call the monetary aggregates. They focus on M1 and M2, and their favorite aggregate is M2. which I believe is encompassing sort of deposits and circulating medium.
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