By Milton Friedman,Anna Jacobson Schwartz
Writing within the June 1965 factor of theEconomic Journal, Harry G. Johnson starts with a sentence doubtless calibrated to the dimensions of the ebook he set himself to study: "The long-awaited financial heritage of the us through Friedman and Schwartz is in each experience of the time period a huge scholarly achievement--monumental in its sheer bulk, huge within the definitiveness of its therapy of innumerable concerns, huge and small . . . huge, peculiarly, within the theoretical and statistical attempt and ingenuity which were delivered to endure at the resolution of advanced and refined monetary issues."
Friedman and Schwartz marshaled giant historic info and sharp analytics to help the declare that financial policy--steady keep an eye on of the cash supply--matters profoundly within the administration of the nation's economic climate, specially in navigating critical fiscal fluctuations. of their influential bankruptcy 7, The nice Contraction--which Princeton released in 1965 as a separate paperback--they tackle the crucial monetary occasion of the century, the melancholy. in keeping with Hugh Rockoff, writing in January 1965: "If nice Depressions can be avoided via well timed activities by means of the financial authority (or via a financial rule), as Friedman and Schwartz had contended, then the case for marketplace economies was once measurably stronger."
Milton Friedman gained the Nobel Prize in Economics in 1976 for paintings regarding A financial History in addition to to his different Princeton college Press e-book, A thought of the intake Function (1957).
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Extra resources for A Monetary History of the United States, 1867-1960 (National Bureau of Economic Research Publications)
A Monetary History of the United States, 1867-1960 (National Bureau of Economic Research Publications) by Milton Friedman,Anna Jacobson Schwartz