Milton Friedman disagreed with Keynesian economics and promoted Monetarism, which focuses on strict control of the money supply to stabilize the economy. Monetarism argues that changes in the amount of money in circulation can explain both long-term trends and short-term fluctuations in the economy. The debate between Monetarists and Keynesians heated up in the late 1960s due to stagflation, a combination of high inflation and high unemployment.