137:, where he was assigned to teach undergraduate courses. He completed several graduate courses in economics and was promoted to assistant professor of political economy in 1923. He taught introductory economics courses until 1928 when he was put in charge of teaching money and banking courses. He retired as professor emeritus in 1953.
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automatically provide for all needed variations in the means of payment. This belief, which I have called the "real-bills doctrine,"" is utterly subversive of any rational attack on the problem of monetary policy. If there is a central theme in what I have written, it is unsound in all its aspects.
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Monetary theory is a matter of paramount importance in a free-market economy, but, to the present time, banking legislation has been too much controlled, in the United States at any rate, by the belief that a restriction of the banks to the making of loans for bona fide commercial purposes will
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form the core of what many refer to as the 'Chicago School' of the 1930s and early 1940s. ... Mints provided a reformulation of the quantity theory which could stand against both the mainstream of the
American economists over the first three decades of the twentieth century and the emerging
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from 1915 to 1917 and then moved to
Washington, D.C. as an analyst in a federal office. In 1918 he was transferred to Chicago. In 1919 Mints enrolled as a graduate student at the
427:
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Mints, Lloyd, "Open Market
Borrowing to Finance the Production of Goods Sold for Future Delivery," Journal of Political Economy, 31, February 1923, pp. 128–38.
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Mints, Lloyd, "Expansion of Fixed and
Working Capital by Open Market Borrowing," Journal of Political Economy, 31, April 1923, pp. 299–302.
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Mints, Lloyd and others, "Monetary Policy: Discussion," American
Economic Review (Supplement), 43, May 1953, pp. 54–60.
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Mints, Lloyd, "Monetary Policy and
Stabilization," American Economic Review (Supplement), 41, May 1951, pp. 188–193.
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Mints had a strong influence on development of
Chicago monetary economics, in particular on Milton Friedman's thinking.
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Peterson, Rodney D.; Phillips, Ronnie J. (1991). "In memoriam: Lloyd W. Mints, 1888–1989: Pioneer
Monetary Economist".
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should have increased the quantity of money during the years from 1929 to 1933. Mints was also a main critic of the
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385:"The Dog that Didn't Bark: The Curious Case of Lloyd Mints, Milton Friedman and the Emergence of Monetarism"
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Mints, Lloyd, "The
Elasticity of Banknotes," Journal of Political Economy, 38, August 1920, pp. 458–71.
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369:(Fourth impression 1965 ed.). Chicago & London: University of Chicago Press. p. Preface.
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Mints, Lloyd, "Monetary Policy," Review of
Economics and Statistics, 28, May 1946, pp. 60–69.
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his bachelor's degree in 1914 and master's degree in 1915. He was a secondary school teacher in
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Born in South Dakota, Lloyd Mints moved with his family in 1888 to Missouri and then in 1901 to
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109:(1888–1989) was an American economist, notable for his contributions to the
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A History of Banking Theory in Great Britain and the United States
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A History of Banking Theory in Great Britain and the United States
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Milton Friedman: Contributions to Economics and Public Policy
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338:Cord, Robert A.; Hammond, J. Daniel, eds. (2016).
282:. Vol. 8. Taylor & Francis. p. xii.
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280:The Chicago Tradition in Economics, 1892–1947
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158:Mints was an advocate of the view that the
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241:Monetary Policy for a Competitive Society
344:. Oxford University Press. p. 206.
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788:20th-century American economists
215:. University of Chicago Press.
1:
798:University of Chicago faculty
793:University of Colorado alumni
274:Emmett, Ross B., ed. (2004).
154:of the late 1930s and 1940s.
437:Chicago school of economics
95:Chicago School of Economics
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317:10.1177/056943459103500111
808:American men centenarians
803:Chicago School economists
238:Lloyd Wynn Mints (1950).
209:Lloyd Wynn Mints (1945).
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365:Mints, Lloyd W. (1945).
111:quantity theory of money
131:Cripple Creek, Colorado
125:. He received from the
43:Brookings, South Dakota
305:The American Economist
160:Federal Reserve System
156:
127:University of Colorado
173:Selected publications
166:in the 20th century.
135:University of Chicago
737:Julian Lincoln Simon
715:Business and finance
706:Frank H. Easterbrook
625:Public choice school
562:New social economics
534:New economic history
456:Henry Calvert Simons
653:William A. Niskanen
164:real bills doctrine
141:The trio of Mints,
552:Robert M. Townsend
16:American economist
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757:Lars Peter Hansen
668:Law and economics
633:James M. Buchanan
123:Boulder, Colorado
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39:February 20, 1888
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643:Randall Holcombe
605:Sudhir Venkatesh
514:Allan H. Meltzer
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244:. McGraw-Hill.
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74:Academic career
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547:Robert Fogel
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783:1989 deaths
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742:Eugene Fama
701:Robert Bork
575:Gary Becker
461:Jacob Viner
62:Nationality
772:Categories
481:Monetarism
395:2019-08-30
258:References
35:1888-02-20
325:156094022
117:Biography
91:tradition
83:Economics
444:Founders
389:cepr.org
178:Articles
65:American
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147:Knight
143:Simons
321:S2CID
203:Books
79:Field
346:ISBN
284:ISBN
246:OCLC
227:OCLC
217:ISBN
145:and
50:Died
29:Born
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