linguistic:translation, structural:reformatting
Rise

Clark Warburton is credited with making the first solid empirical case for the monetarist interpretation of business fluctuations in a series of papers from 1945. Within mainstream economics, the rise of monetarism started with Milton Friedman 's 1956 restatement of the quantity theory of money. Friedman argued that the demand for money could be described as depending on a small number of economic variables.