_cover.jpg) Dust jacket of 1st edition, 3rd printing | |
| Author | Milton Friedman, Anna Schwartz |
|---|---|
| Language | English |
| Subject | Economic history |
| Genre | History |
| Published | 1963 Princeton University Press |
| Publication place | United States |
| Media type | Print (hardcover) |
| Pages | 860 pp (first edition) |
| OCLC | 258805 |
| 332.4973 | |
| LC Class | HG538.F86 1963 |
A Monetary History of the United States, 1867–1960 is a book written in 1963 by future Nobel Prize-winning economist Milton Friedman and Anna Schwartz. It uses historical time series and economic analysis to argue the then-novel proposition that changes in the money supply profoundly influenced the United States 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. Orthodox economic historians see it as one of the most influential economics books of the century.[1][2] The chapter dealing with the causes of the Great Depression was published as a standalone book titled The Great Contraction, 1929–1933.[3]
- ^ Michael D. Bordo; Hugh Rockoff (2013). "Not Just the Great Contraction: Friedman and Schwartz's A Monetary History of the United States 1867 to 1960". American Economic Review. 103 (3): 61–65. doi:10.1257/aer.103.3.61. JSTOR 23469704. S2CID 154748046.
- ^ O'Sullivan, Mary A. (2021). "History as heresy: Unlearning the lessons of economic orthodoxy". The Economic History Review. 75 (2): 297–335. doi:10.1111/ehr.13117. ISSN 1468-0289. S2CID 244299719.
- ^ Milton Friedman; Anna Jacobson Schwartz (2008). The Great Contraction, 1929–1933 (New ed.). Princeton University Press. ISBN 978-0691137940.