He wrote "Testing Monetarism", a critique of monetarism, in 1981. Milton Friedman developed an alternative to Keynesian macroeconomics eventually labeled monetarism. Monetarism is an economic theory commonly associated with neoliberalism. In the 1930s, Keynesian theory was it, and after the 1960s, Monetarism gained prominence. There are also arguments that monetarism is a special case of Keynesian theory. Monetarism offers a third explanation for mercantilism. This evaluation clearly indicates the broken relationship between Friedmanian monetarism and new classical macroeconomics. Following World War II, Milton Friedman created the concept of monetarism. Milton Friedman was awarded the 1976 prize in part for his work on monetarism. He declares monetarism fauiled to control inflation through money supply. Krugman used the term "market monetarism" in his widely read blog. Monetarism is the set of views associated with modern quantity theory. Monetarism was particularly influential in the early 1980s. Sumner has been described as the "eminence grise" of market monetarism.