Question

What did Tobin criticize about Monetarist

Answer 1

Tobin was indeed a Keynesian supporter and he's against the monetarist view where Tobin got to criticize the monetarist view by mentioning that the demand for money supply has nothing to do with short run recession period and this is indeed because what's happens in the short run is that the business people usually get to adjust their demand for currency accordingly in terms of payment of salaries or wages and other transactions as well on the whole and that's the reason why he argued that short run monetarist view doesn't hold true

answered by: anonymous