ABSTRACT
Emblematic of the propensity to divide is the false debate between the work of John Maynard Keynes and Milton Friedman a debate on which much of modern economic life continues to be predicated. Modern western economic life is largely defined in terms of its affliction by the Keynesian: monetarist divide, meaning essentially the opposition between fiscal economic policy and independent monetary policy. Output gap monetarism comprises three main factors: stable demand-to-output ratio (GDP); a stable money-to-goods relationship, or price stability; and stable interest rates. Output gap monetarism and its proponents may be out of fashion in a world now subject to a credit crunch and state bailouts of banks, but it would be unwise, especially at this juncture, autonomously conducted and global economic life. One can see that by coming alongside it from an associative economic, supra-political perspective, output gap monetarism can change from being a victory of the Right over the Left.
