{"product_id":"9781400829330","title":"A Monetary History of the United States, 1867-1960","description":"\u003cp\u003eWriting in the June 1965 issue of the\u003ci\u003eEconomic Journal\u003c\/i\u003e, Harry G. Johnson begins with a sentence seemingly calibrated to the scale of the book he set himself to review: \"The long-awaited monetary history of the United States by Friedman and Schwartz is in every sense of the term a monumental scholarly achievement--monumental in its sheer bulk, monumental in the definitiveness of its treatment of innumerable issues, large and small . . . monumental, above all, in the theoretical and statistical effort and ingenuity that have been brought to bear on the solution of complex and subtle economic issues.\"\u003c\/p\u003e\u003cbr\u003e\u003cp\u003e  Friedman and Schwartz 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. In their influential chapter 7, \u003ci\u003eThe Great Contraction\u003c\/i\u003e--which Princeton published in 1965 as a separate paperback--they address the central economic event of the century, the Depression. According to Hugh Rockoff, writing in January 1965: \"If Great Depressions could be prevented through timely actions by the monetary authority (or by a monetary rule), as Friedman and Schwartz had contended, then the case for market economies was measurably stronger.\"\u003c\/p\u003e\u003cbr\u003e\u003cp\u003e  Milton Friedman won the Nobel Prize in Economics in 1976 for work related to \u003ci\u003eA Monetary History\u003c\/i\u003e as well as to his other Princeton University Press book, \u003ci\u003eA Theory of the Consumption Function\u003c\/i\u003e (1957).\u003c\/p\u003e","brand":"Princeton University Press","offers":[{"title":"Default Title","offer_id":47152069378288,"sku":"9781400829330","price":73.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0737\/7593\/9824\/files\/9781400829330_p0.jpg?v=1763712586","url":"https:\/\/shop-qa.barnesandnoble.com\/products\/9781400829330","provider":"Barnes \u0026 Noble (DEV)","version":"1.0","type":"link"}