Problem
For Keynes, the speculative component of money demand was volatile. This made the demand for money and the money multiplier volatile, so that monetary policy became an unreliable tool for stabilization. What were Keynes's reasons for his assertion on volatility? Do you think such volatility exists in the modern economy? Has it increased or decreased over time?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.