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Monetary History of the United States, by Milton Friedman and Anna Jacobson Schwartz
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Monetary History of the United States, by Milton Friedman and Anna Jacobson Schwartz. This is a hefty tome weighing in at over 800 pages. But it fulfills an important function in the field of economics. It basically traces the money supply over a period of years beginning in 1857 and goes through 1960. There is a particular emphasis on the Great Depression and the contraction of the money supply that occured at this time. Friedman and Schwartz show that it was a very mistaken policy of the federal government that was largely responsible for the severity and length of that memorable time in American economic life. Milton Friedman has long argued that appropriate control of the money supply can go a long way to creating economic conditions that foster prosperity. In this book, with considerable hard data, he proves it beyond a reasonable doubt.
For other books by or on Milton Friedman scan our Milton Friedman Shelf.
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