[ noun ] an economic theory holding that variations in unemployment and the rate of inflation are usually caused by changes in the supply of money <noun.cognition>
monetarism \mon"e*tar*ism\, n. An economic theory holding that the rate of growth of the money supply is the priunciple cause of changes in inflation, economic growth, and unemployment. [PJC]
The Venice summit made a slight stab at old-fashioned monetarism.
Hicks once commented, "What is wrong with monetarism is that it tries to put all the kinds of inflation into the same box." His early work paralleled that of J.M. Keynes, who believed the money supply is largely unimportant in determining demand.
Consider the apparent failures of Keynesian demand management in the 1970s and technical monetarism in the 1980s.
If monetarism really lives on in Paris, as you claim, French interest rates should now be much lower.