An Introduction to Milton Friedman's The Role of Monetary Policy

What effect does increasing the money supply have on the economy? A video summary of The Role of Monetary Policy by Milton Friedman, part of a larger playlist on the world's greatest ideas, discusses the problems that might arise from increasing the money supply. The video uses an analogy of lions at a zoo to help make the point clear.

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CCSS: Adaptable
Instructional Ideas

  • Before watching the video, predict the effect that increasing the money supply would have on an economy and discuss why governments might make that decision
  • Draw pictures or comic strips to help illustrate Friedman's theory on monetary policy
Classroom Considerations

  • Requires an understanding of key terms such as money supply and inflation
Pros

  • Provides illustrations and examples to help make Friedman's theory more accessible to learners
  • Offers clear and well-paced narration
Cons

  • Text boxes occasionally appear on the video, making it difficult to focus on content