The Great Contraction, 1929-1933

The Great Contraction, 1929-1933

4.3 3
by Milton Friedman, Anna Jacobson Schwartz
     
 

ISBN-10: 0691137943

ISBN-13: 9780691137940

Pub. Date: 08/11/2008

Publisher: Princeton University Press

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

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Overview

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 It also reprints comments from the current Federal Reserve chairman, Ben Bernanke, originally made on the occasion of Milton Friedman's 90th birthday, on the enduring influence of Friedman and Schwartz's work and vision.

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Product Details

ISBN-13:
9780691137940
Publisher:
Princeton University Press
Publication date:
08/11/2008
Series:
Princeton Classic Editions Series
Edition description:
New edition with a New preface by Anna Jacobson Schwartz and a new introduction by Peter L. Bernstein
Pages:
320
Sales rank:
780,745
Product dimensions:
5.50(w) x 8.40(h) x 0.80(d)

Table of Contents


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

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The Great Contraction, 1929-1933 4.3 out of 5 based on 0 ratings. 3 reviews.
Anonymous More than 1 year ago
Anonymous More than 1 year ago
seguy52 More than 1 year ago
This is a very detailed look at the financial actions of the government and the Federal Reserve during the Great Depression. It is actually one chapter of a larger work done by the authors on the financial history of the US for 100 year period. I am not an economist by training, so the amount of detail can be overwhelming at times. But the summaries are clearly written and provide detailed insights into what actions were taken as well as why. The authors also point out where they disagree and explain how the Depression may have been different with different policies.