Friedman and Schwartz's A Monetary History of the United States, 1867-1960, published in 1963, stands as one of the most influential economics books of the twentieth century. A landmark achievement, the book 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. The chapter entitled "The Great Contraction, 1929-33" addressed the central economic event of the century, the Great Depression. Published as a stand-alone paperback in 1965, The Great Contraction, 1929-1933 argued that the Federal Reserve could have stemmed the severity of the Depression, but failed to exercise its role of managing the monetary system and ameliorating banking panics. The book served as a clarion call to the monetarist school of thought by emphasizing the importance of the money supply in the functioning of the economy--a concept that has come to inform the actions of central banks worldwide.This edition of the original text includes a new preface by Anna Jacobson Schwartz, as well as a new introduction by the economist Peter Bernstein. It also reprints comments from the current Federal Reserve chairman, Ben Bernanke, originally made on the occasion of Milton Friedman's 90th birthday, on the enduring influence of Friedman and Schwartz's work and vision.
Product Identifiers
Publisher
Princeton University Press
ISBN-10
0691137943
ISBN-13
9780691137940
eBay Product ID (ePID)
67012577
Product Key Features
Author
Anna Jacobson Schwartz, Milton Friedman
Publication Name
Great Contraction, 1929-1933 : New Edition
Format
Trade Paperback
Language
English
Publication Year
2008
Type
Textbook
Number of Pages
320 Pages
Dimensions
Item Length
8.4in
Item Height
0.7in
Item Width
5.6in
Item Weight
12 Oz
Additional Product Features
Lc Classification Number
Hg538.F858 2009
Edition Description
New Edition,Revised Edition
Preface by
Schwartz, Anna Jacobson
Table of Content
New Preface by Anna Jacobson Schwartz ix Introduction: The Great Contraction, Seen from the Perspective of 2007 by Peter L. Bernstein xiii The Great Contraction, 1929-1933 by Milton Friedman and Anna Jacobson Schwartz 1 Remarks by Ben S. Bernanke 227 Author Index 251 Subject Index 253