A Monetary History of the United States, 1867-1960 (National by Milton Friedman,Anna Jacobson Schwartz PDF

By Milton Friedman,Anna Jacobson Schwartz

Writing within the June 1965 factor of theEconomic Journal, Harry G. Johnson starts with a sentence possible calibrated to the size of the ebook he set himself to check: "The long-awaited financial heritage of the USA through Friedman and Schwartz is in each experience of the time period a huge scholarly achievement--monumental in its sheer bulk, enormous within the definitiveness of its therapy of innumerable concerns, huge and small . . . huge, exceptionally, within the theoretical and statistical attempt and ingenuity which were dropped at undergo at the resolution of complicated and sophisticated monetary issues."

Friedman and Schwartz marshaled giant historic information and sharp analytics to aid the declare that financial policy--steady regulate of the money supply--matters profoundly within the administration of the nation's economic climate, specially in navigating critical financial fluctuations. of their influential bankruptcy 7, The nice Contraction--which Princeton released in 1965 as a separate paperback--they tackle the imperative monetary occasion of the century, the melancholy. based on Hugh Rockoff, writing in January 1965: "If nice Depressions can be avoided via well timed activities by way of the financial authority (or through a financial rule), as Friedman and Schwartz had contended, then the case for industry economies used to be measurably stronger."

Milton Friedman received the Nobel Prize in Economics in 1976 for paintings concerning A financial History in addition to to his different Princeton collage Press ebook, A conception of the intake Function (1957).

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A Monetary History of the United States, 1867-1960 (National Bureau of Economic Research Publications) by Milton Friedman,Anna Jacobson Schwartz

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