an economic theory that the most effective way of controlling the economy is by controlling only the supply of money
Monetarism cannot be seen as one uniform creed; but common to most dedicated believers is the fatalistic view that governments are unable to generate long-term economic growth by attempting to raise public or private spending. This is because only by increasing the money supply can spending overall be increased; and increases in the money supply simply lead to higher prices. Naturally, monetarism has been associated with a minimalist view of the government's role in economic management — Evan Davis
monetarist noun and adj