A Monetary History of the United States, 1867-1960 (National Bureau of Economic Research)
Milton Friedman; Anna Jacobson Schwartz
From Sequitur Books, Boonsboro, MD, U.S.A.
AbeBooks Seller Since June 16, 2008
From Sequitur Books, Boonsboro, MD, U.S.A.
AbeBooks Seller Since June 16, 2008
About this Item
xxiv, 860 pp. Custom binding. Handsomely bound in quarter blue leather over marbled boards. Marbled endpapers, gilt ruled, raised bands. Fine binding and cover. Clean and unmarked pages. Reprint. Milton Friedman and Anna J. Schwartz use historical time series and economic analysis to argue the then novel proposition that changes in the money supply profoundly influenced the US economy, especially the behavior of economic fluctuations. The implication they draw is that changes in the money supply had unintended adverse effects, and that sound monetary policy is necessary for economic stability. Economic historians see it as one of the most influential economics books of the century. A wonderful addition for the scholar or the business professional. Milton Friedman won the Nobel Prize in Economics in 1976 for work related to A Monetary History as well as to his other Princeton University Press book, A Theory of the Consumption Function (1957). First published in 1963. Seller Inventory # 1802280077
Bibliographic Details
Title: A Monetary History of the United States, ...
Publisher: Princeton University Press
Publication Date: 1963
Binding: Hardcover
Condition: Like New
About this title
Writing in the June 1965 issue of theEconomic Journal, Harry G. Johnson begins with a sentence seemingly calibrated to the scale of the book he set himself to review: "The long-awaited monetary history of the United States by Friedman and Schwartz is in every sense of the term a monumental scholarly achievement--monumental in its sheer bulk, monumental in the definitiveness of its treatment of innumerable issues, large and small . . . monumental, above all, in the theoretical and statistical effort and ingenuity that have been brought to bear on the solution of complex and subtle economic issues."
Friedman and Schwartz marshaled massive historical data and sharp analytics to support the claim that monetary policy--steady control of the money supply--matters profoundly in the management of the nation's economy, especially in navigating serious economic fluctuations. In their influential chapter 7, The Great Contraction--which Princeton published in 1965 as a separate paperback--they address the central economic event of the century, the Depression. According to Hugh Rockoff, writing in January 1965: "If Great Depressions could be prevented through timely actions by the monetary authority (or by a monetary rule), as Friedman and Schwartz had contended, then the case for market economies was measurably stronger."
Milton Friedman won the Nobel Prize in Economics in 1976 for work related to A Monetary History as well as to his other Princeton University Press book, A Theory of the Consumption Function (1957).
"About this title" may belong to another edition of this title.
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