Published in 1963, by Milton Friedman and Anna J. Schwartz is considered one of the most influential economics books of the 20th century. It fundamentally shifted the economic consensus by arguing that the money supply is a primary driver of economic activity and stability. The Core Thesis: "Money Matters"
The transition from private clearinghouses to a centralized monetary authority. A Monetary History of the United States, 1867-1960
They identified four critical errors, including raising interest rates in 1931 to defend the gold standard and failing to act as a "lender of last resort" to stop banking panics. Published in 1963, by Milton Friedman and Anna J