IntroductionThe global economy has experienced a number of notable changes, such as the Great Depression of the 1930s and the difficult period of the 1970s, which led to adjustments and changes in the politics of monetarism. We cannot therefore deny the great contribution of some famous experts in economics in general and macroeconomics in particular, such as Adam Smith, John Maynard Keynes, and especially Milton Friedman, who dedicated their direct guidance to strengthening the economy. which is known as theories of monetarism. Specifically, Vietnam is one of the countries suffering difficulties related to the high rate of inflation, which may largely result from the government's excessive expansion of the money supply. This essay will examine the fundamental theoretical ideas underlying Milton Friedman's approach to inflation and will also focus on the strengths and weaknesses of realist practices and highlight the positive influences on Vietnam's economy in the long term. Understanding Keynes (1943) argues that the government and monetary authorities should implement a policy of easing monetarism through increasing the quantity of money that can support the maintenance and stabilization of the national macroeconomy. Furthermore, he also believes that limited growth in the money supply is not a sufficient condition for stabilizing the price level. His approach achieved the decline in the unemployment rate and the increase in the level of prices and wages in the difficult period of the 1970s. However, this also led to a high inflation rate because the government provided an excessive amount of money during that time. On the contrary, according to Friedman 1980a, “Monetary restriction is a sufficient condition to control…half of the paper…allocate resources to avoid inefficient investment capital, budget deficits and avoid the danger of high rate of inflation. Furthermore, constant growth of money supply should be maintained, which is estimated at 4-5% because it can be a suitable method to achieve stable economic growth without suffering from inflation. Conclusion Friedman's approach made a great contribution to the issue of inflation in the difficult period of the 1970s. His solution is to limit currency expansion and pay the short-term price of higher unemployment. This theory helps stabilize the overall price development and price level, helping both consumers and businesses make informed and better decisions regarding spending and investment. However, this also generates some difficulties towards businesses, especially in the case of Vietnam's macroeconomy.