Monetarism is Alive and Well
During the early months of 1990, inflation rates as reported by the International Monetary Fund, ranged from negative numbers to an annual rate of more than 1400 percent. Countries like Poland, Argentina, Yugoslavia and Brazil where the reported annual rate of inflation was above 1000 percent all had experienced high money growth. A few countries like Togo and Ethiopia reported falling prices. They had experienced negative rates of money growth in the recent past.