All Posts Tagged With: "Anna Schwartz"

Deflation: The Good, the Bad, and the Ugly

During the current recession a number of commentators have made various comparisons to the Great Depression, mostly because of the dramatic decline in the stock market and ongoing troubles in the financial industry. When oil prices also began a dramatic decline in the autumn of 2008, pulling the overall consumer price level downward for the [...]

5Jan2010 | Steven Horwitz | 59 comments | Continued

Financial Crises and the Federal Reserve’s Punch Bowl

Why did the U.S. financial system nearly collapse last year? People blame Wall Street’s excessive greed and risk-taking. But without easy money, the massive risk-taking could not have happened. To be sure, financial firms leveraged up—that is, they did a lot of business with borrowed money. That juiced up revenues and bonuses in the boom—and [...]

18Nov2009 | Chidem Kurdas | 12 comments | Continued

Capital Letters

Thanks to Milton Friedman’s brilliance, charisma, and diplomacy he became an ardent spokesman for many free-market reforms in this country. And now Ivan Pongracic, Jr. (“The Great Depression According to Milton Friedman,” September 2007) gives him credit for accomplishing what seems miraculous—convincing Fed officials that the Fed itself was responsible for precipitating the crash and [...]

1Dec2007 | FEE Admin | 0 comments | Continued

The Great Depression According to Milton Friedman

The author extends special thanks to Lawrence H. White and Ivan Pongracic, Sr., for their helpful comments. Few events in U.S. history can rival the Great Depression for its impact. The period from 1929 to 1941 saw fundamental changes in the landscape of American politics and economics, including such monumental events as America ‘s going [...]

1Sep2007 | Ivan Pongracic Jr. | 77 comments | Continued

The Great Duration, 1929–41

Economists, following the usage of Milton Friedman and Anna Schwartz in their classic Monetary History of the United States, call the economic collapse between 1929 and 1933 the Great Contraction. In my own writings, I have added two similar terms to refer to other aspects of the Great Depression—the Great Duration and the Great Escape. [...]

1Jul2007 | Robert Higgs | 0 comments | Continued

Money in the 1920s and 1930s

Richard Timberlake is a professor of economics retired from the University of Georgia, and author of Monetary Policy in the United States, An Intellectual and Institutional History (University of Chicago Press, 1993). This article is the first in a series. One of the most enduring and troublesome mysteries in economics is money: how it is [...]

1Apr1999 | Richard H. Timberlake | 3 comments | Continued

The Mysteries of the Great Depression Finally Solved

The Great Depression of the 1930s may be a dim memory now, but its impact is still being felt in policy and theory. The prolonged depression created an environment critical of laissez-faire policies and favorable toward ubiquitous state interventionism throughout the Western world.

1Jul1997 | Mark Skousen | 27 comments | Continued

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