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A Monetary History Of The United States, 1867-1960 🔥

The book's most famous section, Chapter 7 (often published separately as The Great Contraction ), reinterpreted the Great Depression.

The aftermath of the Civil War and the return to the gold standard. A Monetary History of the United States, 1867-1960

The book contends that had the Fed maintained a steady money supply, the severe contraction could have been avoided or significantly mitigated. Key Historical Episodes Analyzed The book covers several distinct monetary eras: The book's most famous section, Chapter 7 (often

The transition from private clearinghouses to a centralized monetary authority. Key Historical Episodes Analyzed The book covers several

Changes in the money supply profoundly influence the economy's behavior, including fluctuations in income and prices.

Before this book, the prevailing Keynesian consensus held that monetary policy was largely ineffective, especially during deep downturns. Friedman and Schwartz challenged this by demonstrating that:

Published in 1963, by Milton Friedman and Anna J. Schwartz is considered one of the most influential economics books of the 20th century. It fundamentally shifted the economic consensus by arguing that the money supply is a primary driver of economic activity and stability. The Core Thesis: "Money Matters"

The book's most famous section, Chapter 7 (often published separately as The Great Contraction ), reinterpreted the Great Depression.

The aftermath of the Civil War and the return to the gold standard.

The book contends that had the Fed maintained a steady money supply, the severe contraction could have been avoided or significantly mitigated. Key Historical Episodes Analyzed The book covers several distinct monetary eras:

The transition from private clearinghouses to a centralized monetary authority.

Changes in the money supply profoundly influence the economy's behavior, including fluctuations in income and prices.

Before this book, the prevailing Keynesian consensus held that monetary policy was largely ineffective, especially during deep downturns. Friedman and Schwartz challenged this by demonstrating that:

Published in 1963, by Milton Friedman and Anna J. Schwartz is considered one of the most influential economics books of the 20th century. It fundamentally shifted the economic consensus by arguing that the money supply is a primary driver of economic activity and stability. The Core Thesis: "Money Matters"