Reagan supply siders = market monetarists?
I have noticed that a increasing number of 1980s US supply siders are coming out views on US monetary policy which is very close to the Market Monetarist views. This is not really surprising if one studies what the supply siders were saying in the 80s, but it is nonetheless in stark contrast to the core views of today's GOP. A good example is Nobel laureate Bob Mundell who recently at a Heritage Foundation seminar gave a Market Monetarist explanation for the Great Depression: The Fed caused it. The latest Reagan supply sider to come out with a market monetarist perspective on monetary policy is Bruce Bartlett. See this the Bartlett's interview on CNBC here in which he calls for the Federal Reserve to implement a nominal GDP target. PS David Beckworth has a much more clever comment on Bartlett.