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A Monetary History of the United States 1867-1960

A Monetary History of the United States Writing in the June issue of theEconomic Journal Harry G Johnson begins with a sentence seemingly calibrated to the scale of the book he set himself to review The long awaited monetary history o

  • Title: A Monetary History of the United States 1867-1960
  • Author: Milton Friedman Anna Jacobson Schwartz
  • ISBN: 9780691003542
  • Page: 227
  • Format: paper
  • Writing in the June 1965 issue of theEconomic Journal, Harry G Johnson begins with a sentence seemingly calibrated to the scale of the book he set himself to review The long awaited monetary history of the United States by Friedman and Schwartz is in every sense of the term a monumental scholarly achievement monumental in its sheer bulk, monumental in the definitivenesWriting in the June 1965 issue of theEconomic Journal, Harry G Johnson begins with a sentence seemingly calibrated to the scale of the book he set himself to review The long awaited monetary history of the United States by Friedman and Schwartz is in every sense of the term a monumental scholarly achievement monumental in its sheer bulk, monumental in the definitiveness of its treatment of innumerable issues, large and small monumental, above all, in the theoretical and statistical effort and ingenuity that have been brought to bear on the solution of complex and subtle economic issues Friedman and Schwartz marshaled massive historical data and sharp analytics to support the claim that monetary policy steady control of the money supply matters profoundly in the management of the nation s economy, especially in navigating serious economic fluctuations In their influential chapter 7, The Great Contraction which Princeton published in 1965 as a separate paperback they address the central economic event of the century, the Depression According to Hugh Rockoff, writing in January 1965 If Great Depressions could be prevented through timely actions by the monetary authority or by a monetary rule , as Friedman and Schwartz had contended, then the case for market economies was measurably stronger Milton Friedman won the Nobel Prize in Economics in 1976 for work related to A Monetary History as well as to his other

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    About "Milton Friedman Anna Jacobson Schwartz"

    1. Milton Friedman Anna Jacobson Schwartz

      Milton Friedman was an American Nobel Laureate economist and public intellectual He made major contributions to the fields of economics and statistics In 1976, he was awarded the Nobel Prize in Economics for his achievements in the fields of consumption analysis, monetary history and theory, and for his demonstration of the complexity of stabilization policy He was an advocate of economic freedom.According to The Economist, Friedman was the most influential economist of the second half of the 20th centurypossibly of all of it Former Federal Reserve Board chairman Alan Greenspan stated, There are very few people over the generations who have ideas that are sufficiently original to materially alter the direction of civilization Milton is one of those very few people Source

    673 Comments

    1. The research contained in this book has been cited by Ben Bernanke and Christina Romer, two of the most knowledgeable experts on the Great Depression, as some of the best empirical work in economics, yet it s rated 3.97 stars That makes no sense.


    2. I probably only understood 50 60% of what they were talking about in this book, but since it is considered one of the seminal achievements in economics in the 20th Century, I guess I don t feel I have the right to give it a bad rating.


    3. Whew can only read this one in chunks Good info though.Finished ch 4 Am now past the 1907 financial crisis.Finished ch 5 Creation of the Federal Reserve System and post WWI crisis.




    4. The indispensable reference for historical data and commentary on the US monetary system in the context of economic history from the civil war until 1960.


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