A Monetary History Of The United States, 1867-1960 May 2026

The work served as the foundation for , emphasizing stable monetary rules over discretionary government management. It has had a lasting impact on central banking; former Fed Chairman Ben Bernanke famously conceded to the authors on behalf of the Federal Reserve: "You're right, we did it. We're very sorry. But thanks to you, we won't do it again".

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: 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. The work served as the foundation for ,