Government intervention in the economy has now been accepted as desirable and necessary by many economists. Monetarists do not agree with this position. Briefly state the monetarist viewpoint.

The monetarist viewpoint on government intervention in the economy is generally one of skepticism. Monetarists believe that the key role of a central bank should be to control the money supply to manage inflation and maintain price stability. They argue that market forces, if allowed to function without interference, will naturally lead to economic stability and growth. Excessive government intervention can distort market signals, create inefficiencies, and lead to a misallocation of resources. Monetarists favor minimal government intervention, with the main role of the government being limited to controlling the money supply and ensuring price stability, while avoiding involvement in other aspects of the economy unless absolutely necessary.