The Great Contraction, 1929-1933: New Edition (Princeton Classic Editions)

ISBN: 0691137943

Author: Friedman, Milton

Condition: Used

The leading and most persuasive explanation of the worst economic disaster in American history, the onset of the Great Depression.-Ben S. Bernanke, Nobel Prize-winning economist and former chair of the U.S. Federal ReserveNobel Prize-winning economist Milton Friedman and his celebrated colleague Anna Jacobson Schwartzs landmark reinterpretation of the Great DepressionMilton Friedman and Anna Jacobson Schwartzs A Monetary History of the United States, 1867-1960 is one of the most influential economics books of the twentieth century. A landmark achievement, it marshaled massive historical data and sharp analytics to argue that monetary policy-steady control of the money supply-matters profoundly in the management of the nations economy, especially in navigating serious economic fluctuations. Perhaps no other chapter of this monumental book had a greater impact than The Great Contraction, 1929-33, which offered a fundamental reinterpretation of the central economic event of the twentieth century-the Great Depression. The Great Contraction, 1929-1933 presents that chapter, which runs to more than 200 pages, as a stand-alone book, in an edition that also features a new preface by Anna Jacobson Schwartz and a new introduction by the economist Peter Bernstein, both of which place the work and its lasting impact in context. In addition, the book includes a speech by Nobel Prize-winning economist and former chair of the Federal Reserve Ben Bernanke, in which he reflects on the continuing importance of Friedman and Schwartzs work.