>Indeed he does. Money neutrality is the sine qua non
>of neo-classical macroeconomics.
I'm certainly not a neutral money or neutral finance guy; I wrote a whole book arguing the contrary. I'm talking about what monetary/financial effects are, and what their limits are.
As for Friedman & neutrality, he sure blamed a lot of the Depression on the Fed, which is a monetary explanation. There he wants to externalize the blame from the inner workings of capitalism to botched interventions by the state.
Doug