By Milton Friedman,Anna Jacobson Schwartz
Writing within the June 1965 factor of theEconomic Journal, Harry G. Johnson starts off with a sentence doubtless calibrated to the dimensions of the booklet he set himself to study: "The long-awaited financial background of the USA via Friedman and Schwartz is in each feel of the time period a huge scholarly achievement--monumental in its sheer bulk, huge within the definitiveness of its remedy of innumerable matters, huge and small . . . enormous, especially, within the theoretical and statistical attempt and ingenuity which were dropped at endure at the answer of complicated and refined fiscal issues."
Friedman and Schwartz marshaled large historic information and sharp analytics to help the declare that financial policy--steady keep an eye on of the money supply--matters profoundly within the administration of the nation's economic climate, specifically in navigating critical fiscal fluctuations. of their influential bankruptcy 7, The nice Contraction--which Princeton released in 1965 as a separate paperback--they deal with the crucial fiscal occasion of the century, the melancholy. based on Hugh Rockoff, writing in January 1965: "If nice Depressions may 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 industry economies was once measurably stronger."
Milton Friedman gained the Nobel Prize in Economics in 1976 for paintings concerning A financial History in addition to to his different Princeton collage Press ebook, A concept 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