human
I have a question about the history of austrian economics. Who was the first economist to propose the idea of a money supply?
assistant
That would be Friedrich Hayek. Hayek was a Nobel Prize-winning economist who was a professor at the University of Chicago. Hayek was a proponent of the Austrian School of Economics, which is a school of thought that focuses on the role of the market in the economy. Hayek was also a strong supporter of the gold standard, which is a monetary system in which the value of money is based on the value of gold.