A Monetary History of the United States, 1867-1960

This book, written by Milton Friedman and Anna J. Schwartz, is a landmark work in economic history.

It argues that changes in the money supply profoundly influenced the U.S.

economy, particularly during significant economic events such as the Great Depression.

The authors criticize the Federal Reserve for its handling of monetary policy, especially during the Great Depression, and emphasize the importance of steady control of the money supply in managing economic fluctuations.

The book also discusses the role of the gold standard, the impact of bank failures, and the decision-making processes within the Federal Reserve.