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The economic theory or practice of using only one metal as a monetary standard.

mon′o·met′al·list n.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
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Ferreting out cost-push fallacies wherever he could find them, he spared his monometallist targets no more mercy than he had spared Tooke.
Monometallist cost-pushers, Wicksell argued, simply fail to understand that it is only through accommodative money growth (or restrictive growth in the case of deflation) that relative price changes can be translated into overall price level changes.
Orthodox monometallists, or gold standard advocates, however, denied that slow money growth had been the cause of falling prices.