"monetary prosperity" is a perfectly valid phrase in written English.
You can use it to describe a situation in which an individual or organization has an abundance of financial resources. For example, "The company has experienced great monetary prosperity in the past five years."
In short, lower budget deficits, lower interest rates and no inflation failed to bring about either a stable currency or prosperity – monetary union backed by an evolving political union notwithstanding.
As the economy stagnates and unemployment rises, pressures will grow to manipulate the currency in the mistaken belief that such monetary monkeying will create prosperity.
Germany alone has the ability to end a dysfunctional monetary union and to bring prosperity back to Europe.
One drawback is that Schumpeter was not a "feel-good" economist like Keynes, whose apostles believed that properly manipulating government fiscal and monetary tools would generate perpetual prosperity, with nary a bust or a bout of irrational exuberance.
But it is important to be clear: the likelihood that loose monetary policies will restore global prosperity is nil.
The theme of this week's annual meetings of the International Monetary Fund and the World Bank is shared prosperity.
It is clear, moreover, that Mr. Bernanke continues to consider low, stable inflation as the single most important contribution that monetary policy can make to long-term prosperity.
Scores in each category were then weighted based on correlation with widespread prosperity, measured using the International Monetary Fund's 2014 per capita gross domestic product purchasing power parity.
As they saw it, they were being asked to sacrifice the D-mark, the secure anchor of German prosperity and of Europe's monetary system, for the benefit of others.
But just as the prescriptions of the International Monetary Fund are now being questioned, as prosperity has proved elusive for countries like Brazil and Argentina, so are the W.T.O.'s intellectual property rules.
