What does monetarist mean?
A monetarist is someone who supports monetarism, the economic doctrine that emphasizes the supply and control of money as central influences on inflation, employment, and economic growth. Monetarists generally favour active management of the money supply by a central bank, especially through interest rates, as a means of maintaining price stability. The term became especially prominent during the international debate between monetarist and Keynesian approaches in the 20th century. It may also be used attributively to describe a person, policy, or body of thought associated with this position, as in “a leading monetarist economist” or “monetarist thinking.” Although closely associated with free-market economics, the label identifies support for a particular monetary-policy framework rather than opposition to all government intervention. In contemporary discussion, “monetarist” is less common than the broader and more neutral term “monetary economist,” but it remains useful for identifying adherence to a distinctive and historically influential school of economic thought.
An economist or other specialist who advocates monetarism and the use of monetary policy to influence inflation and economic conditions.
"Several prominent monetarists advised the government on interest-rate policy."
Most often used for an economist or intellectual who supports monetarist principles.
Relating to monetarism or characteristic of its supporters and policies.
"The government rejected the strongly monetarist recommendations of its economic advisers."
Primarily an attributive modifier; the noun monetarist is more common.
The regular plural is used for economists and other specialists who support monetarism.
"The monetarists disagreed sharply about how quickly monetary growth should be restricted."
The idea that controlling money can tame inflation turned monetary policy into one of the great economic battlegrounds of the 20th century.
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.
Where does monetarist come from?
Monetarist was formed in the 19th century from monetarism plus the suffix -ist, meaning a supporter or practitioner. Monetarism in turn derives from monetary, and ultimately from Latin moneta, meaning “money” or “coin.” The same Latin root underlies money, monetize, and monetization, reflecting the long history of economic and political concepts concerned with currency.
Related word forms
How monetarist is actually used
The noun is the established, common form. As an adjective, monetarist usually describes an economist, school of thought, policy, or view rather than functioning as a freely gradable adjective.
Easily confused with monetarist
A monetarist is a person who supports monetarism, whereas monetary is an adjective describing anything relating to money.