Description
Tracing the United States’ monetary evolution from 1867 to 1960, this landmark work argues that money is not a backdrop to economic life but a powerful, measurable force that governments can influence. Drawing on extensive historical evidence, it offers a sweeping reinterpretation of major financial episodes—most notably the Great Depression—by showing how monetary policy and the behavior of the money supply shaped outcomes. The book advances the monetarist perspective that inflation, recessions, and recoveries are deeply connected to changes in money and credit, not merely to real economic shocks. Written with Friedman’s rigorous, theory-driven clarity and Schwartz’s meticulous historical scholarship, it remains a foundational text for understanding monetary policy and the long-run consequences of central banking decisions.
Available Editions
paperback
Princeton University Press
Published Sep 2, 2008
889 pages
ISBN: 9781400829330
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Details
First Published
1963
Language
eng
Content Warnings
No content warnings identified.