What school of thought would make this suggestion, and how do economists of that school justify that prescription?
"The Fed should simply increase the money supply at the same rate that the full employment economy grows, and the government should desist from any stabilizing urges."
A monetarist would make this suggestion. Monetarists focus on the effect that the money supply has on a country's economy. Excessive growth of ...
Fiscal policy advocates using government spending to stimulate the economy. Which economic school of thought argues that fiscal policy does more harm than good is determined.