For two decades, Milton Friedman has contended that the monetary theory of John Maynard Keynes is highly special, applicable only to conditions of deep depression. He continues to cite Keynes' dependence on a condition of absolute liquidity preference, commonly called the liquidity trap, as the ...
Irvine/USA, Milton Keynes/UK, and Tsukuba/Japan. At an initial period of development, the planners faced the “planner's dilemma,” between attracting residents and building urban diversity. While the level of urban services was the critical determinant for people to move to a new city, ...