The Great Contraction, 1929-1933

The Great Contraction, 1929-1933 PDF

Author: Milton Friedman

Publisher: Princeton University Press

Published: 2012-12-27

Total Pages: 299

ISBN-13: 1400846854

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Friedman and Schwartz's A Monetary History of the United States, 1867-1960, published in 1963, stands as one of the most influential economics books of the twentieth century. A landmark achievement, the book 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. The chapter entitled "The Great Contraction, 1929-33" addressed the central economic event of the century, the Great Depression. Published as a stand-alone paperback in 1965, The Great Contraction, 1929-1933 argued that the Federal Reserve could have stemmed the severity of the Depression, but failed to exercise its role of managing the monetary system and ameliorating banking panics. The book served as a clarion call to the monetarist school of thought by emphasizing the importance of the money supply in the functioning of the economy--a concept that has come to inform the actions of central banks worldwide. This edition of the original text includes a new preface by Anna Jacobson Schwartz, as well as a new introduction by the economist Peter Bernstein. It also reprints comments from the current Federal Reserve chairman, Ben Bernanke, originally made on the occasion of Milton Friedman's 90th birthday, on the enduring influence of Friedman and Schwartz's work and vision.

The Great Contraction, 1929-1933

The Great Contraction, 1929-1933 PDF

Author: Milton Friedman

Publisher: Princeton University Press

Published: 2008-08-31

Total Pages: 298

ISBN-13: 0691137943

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This volume argues that the Federal Reserve could have stemmed the severity of the Depression, but failed to exercise its role of managing the monetary system and ameliorating banking panics.

Essays on the Great Depression

Essays on the Great Depression PDF

Author: Ben S. Bernanke

Publisher: Princeton University Press

Published: 2024-01-09

Total Pages: 352

ISBN-13: 0691259666

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From the Nobel Prize–winning economist and former chair of the U.S. Federal Reserve, a landmark book that provides vital lessons for understanding financial crises and their sometimes-catastrophic economic effects As chair of the U.S. Federal Reserve during the Global Financial Crisis, Ben Bernanke helped avert a greater financial disaster than the Great Depression. And he did so by drawing directly on what he had learned from years of studying the causes of the economic catastrophe of the 1930s—work for which he was later awarded the Nobel Prize. Essays on the Great Depression brings together Bernanke’s influential work on the origins and economic lessons of the Depression, and this new edition also includes his Nobel Prize lecture.

A Companion to Warren G. Harding, Calvin Coolidge, and Herbert Hoover

A Companion to Warren G. Harding, Calvin Coolidge, and Herbert Hoover PDF

Author: Katherine A.S. Sibley

Publisher: John Wiley & Sons

Published: 2014-07-22

Total Pages: 660

ISBN-13: 111883447X

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With the analysis of the best scholars on this era, 29 essays demonstrate how academics then and now have addressed the political, economic, diplomatic, cultural, ethnic, and social history of the presidents of the Republican Era of 1921-1933 - Harding, Coolidge, and Hoover. This is the first historiographical treatment of a long-neglected period, ranging from early treatments to the most recent scholarship Features review essays on the era, including the legacy of progressivism in an age of “normalcy”, the history of American foreign relations after World War I, and race relations in the 1920s, as well as coverage of the three presidential elections and a thorough treatment of the causes and consequences of the Great Depression An introduction by the editor provides an overview of the issues, background and historical problems of the time, and the personalities at play

From New Deal Banking Reform to World War II Inflation

From New Deal Banking Reform to World War II Inflation PDF

Author: Milton Friedman

Publisher: Princeton University Press

Published: 2014-07-14

Total Pages: 182

ISBN-13: 1400854253

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This selection from the authors' A Monetary History of the United States, 1867-1960 (Princeton) describes the changes that were made in the banking structure and in the monetary standard following the great contraction of 1929 to 1933, the establishment of monetary policies after the New Deal period, and the development of inflation during World War II. Originally published in 1980. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

The Great Depression Revisited

The Great Depression Revisited PDF

Author: K. Brunner

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 367

ISBN-13: 940098135X

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The fateful days of the great stock market crash entered modem history almost 50 years ago to this day. The cyclic turning point of the U. S. economy oc curred, however, around June 1929, and economic activity receded substantial ly over the subsequent months. The onset of an economic downswing thus became clearly visible before the famous crash. But the October event stays in the public's mind as the symbol of the Great Depression. For nearly four years, until the spring of 1933, the U. S. economy plunged into a deep reces sion. Activity declined, prices fell, and there emerged a massive unemploy ment problem. The economy ultimately overcame this shock in 1933. Prices rose rapidly in spite of substantial margins of unusual resources. Activity ex panded, but occasionally at a somewhat hesitant rate. The expansion, however, was interrupted by another recession of major proportions during 1937-38. The tragic sequence of events shaped public consciousness and influenced new approaches and views in economic policymaking. The activist approach to "stabilization policy" and a wide range of regulatory policies were essentially justified in terms of this experience. These policies were crucially influenced by our understanding and interpretation of the Great Depression. The view of a radically unstable economic process perennially on the edge of serious collapse gained wide popularity and became a central element of the Keynesian tradi- 2 INTRODUCTION tion. It encouraged, with supplementary interpretations, an interventionist and expanding role of the government in our economic affairs.

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