1 0. Given the economic complexities of properly timing macropolicy and the shortsighted bias of the collective decision-making process, monetarists are very pessimistic about the likelihood that macropolicy will be stabilizing. Thus, they favor a monetary rule that would require authorities to expand the money supply at a constant rate. They believe that this policy would reduce the magnitude of business fluctuations since it would eliminate what they perceive to be the major source of instability; namely, the stop-go policies of the monetary authorities.