Here is my recent Mint piece where I argue how the year 2018 is significant for two developments in monetary economics. First is the 50th anniversary of much celebrated Milton Friedman’s lecture titled “The role of monetary policy”. Second is the Reserve Bank of NZ adding employment to its price stability mandate.
Both the events are obviously connected as I explain in the piece. How RBNZ adding employment to its price stability objective is against Friedman’s advice given in 1968. Friedman argued a central bank should only focus on price stability and leave other objectives to polity. So just like life, monetary policy and central banking also keeps going in circles…
Utopia, you are standing in it! 
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