Money plays and important role in the theoretical systems of J. M. Keynes and M. Friedman, it reveals itself, however, in a different and a specific way. In the Keynes' model the influence of money shows itself by means of the interest rate dynamics. Within economic policy the fiscal policy is given priority (increase of state expenses); monetary policy is to ensure a low level of interest rate and consequently to stimulate investment activities. In M. Friedman' opinion money operates in economy as a quantity (by means of its volume) and the economic policy role is to regulate money supply primarily. Purposeful monetary measures are recommended to be replaced by a strict rule of a steady growth rate of the mass of money. State influence is required to be reduced. Both of the presented schools agree with the fact that, in a short run, money is not neutral: changes in the quantity of money reveal influence upon production and employment.
