Populist efforts for bimetallism and the deflationary pressures of the late 19th century.
The book's most famous section, Chapter 7 (often published separately as The Great Contraction ), reinterpreted the Great Depression. A Monetary History of the United States, 1867-1960
Changes in the money supply profoundly influence the economy's behavior, including fluctuations in income and prices. A Monetary History of the United States, 1867-1960
Today, the book is available in various formats, with Paperback editions and eBooks typically priced between $50 and $75. A Monetary History of the United States, 1867-1960
The inflationary impact of wartime financing and the eventual revival of independent monetary policy in the 1950s. Intellectual Legacy
Before this book, the prevailing Keynesian consensus held that monetary policy was largely ineffective, especially during deep downturns. Friedman and Schwartz challenged this by demonstrating that: