1. "Single rule" was put forward by Friedman, the representative of the monetary school; The economic policy of "camera choice" was put forward by Keynes, the representative of Keynes School.

2. The "single rule" holds that the only goal of the central bank in formulating monetary policy is to maintain a stable monetary policy. "Free choice" holds that in the economic depression, expansionary monetary policy should be adopted to stimulate effective demand, increase employment opportunities and promote economic growth; On the contrary, when the economy grows too fast and inflation occurs, we should adopt a tight monetary policy to curb effective demand and limit the growth of investment and consumption. Accordingly, adjusting the money supply will affect the economic operation, smooth the economic cycle and realize the stable growth of the national economy.

Extended data:

Discretionary monetary policy norms have three characteristics:

1. Monetary policy itself is a dynamic short-term economic stability policy. The reason why the monetary authorities should make decisions according to the economic operation is to use the dynamic nominal national income fluctuation caused by monetary policy to offset the spontaneous nominal national income fluctuation caused by the disturbance of total demand, so as to adjust the economic cycle and stabilize the economic operation.

2. The active resistance of monetary policy to the spontaneous fluctuation of nominal national income caused by the disturbance of total demand, so as to stabilize economic operation, is realized through the specific operation mode of "anti-economic wind" and "anti-economic cycle".

3. In the specific operation process of monetary policy against the economic wind and the economic cycle, the monetary authorities are endowed with extensive powers and can make trade-offs according to their own subjective judgments.

References:

Baidu encyclopedia-camera selection

Baidu Encyclopedia-Single Rule