money multiplier การใช้

The outcome of this increase in'H'is an increase in M through the money multiplier process.
Although the money multiplier concept is a traditional portrayal of fractional reserve banking, it has been criticized as being misleading.
So my idea was to delete the statement altogether from history, and put the caveat in " money multiplier ".
Chartalism rejects critical mainstream theories such as the loanable funds market, the money multiplier, and the utility of fiscal austerity.
Some economists argue that the money multiplier is a meaningless concept, because its relevance would require that the money supply be endogenous.