Sep 26, 2012 ben bernanke print by dave schwartz wednesday, september 26, 2012. She was a prolific economic scholar and produced a large volume of work including nine books on monetary policy. I will only add here that anna schwartz, when asked about the feds unprecedented response to the difficulties of 200709, dryly remarked that bernanke seemed to know only two figures, trillion and zero. Oct 05, 2015 the courage to act satisfies that curiosity with an interesting read about bernanke s life, largely focused on the 2007 financial crisis and its aftermath. It is, i believe, the 7th chapter in friedmanschwarz book on the monetary. Jun 21, 2012 anna schwartz, an economist and coauthor with milton friedman of a book on monetary policy that shaped the views of central bankers including federal reserve chairman ben s. Anna schwartz was the coauthor of a monetary history of the united states. Schwartz a monetary history of the united states, 18671960 is an analysis and explanation of the great depression of the 1930s. He was named time magazines person of the year in 2009. Its conclusion, first published in the early 1960s, differs from the two main explanations that existed at the time. Sep 02, 2010 thinking about thumbing through that detective novel or thriller this labor day weekend. Posted in 200708 financial crisis, history of economics tagged with.
Anna jacobson schwartz was an american economist who worked at the national bureau of. The pros and cons of friedman and schwartzs interpretation have been grist for many a book. This view persists to this day despite the more than 40 years since milton friedman and anna jacobson schwartz showed convincingly that the federal reserves monetary policies were largely to blame for the severity of the great depression. Schwartz died today at age 96the lessheralded partner of milton friedman in his celebrated work on monetary history. Was it the contractionary monetary policy implemented by the fed. Youre better off reading milton friedman and anna jacobson schwartzs a monetary history of the united states, which i think is a better account. A monetary history of the united states, 18671960 is a book written in 1963 by nobel prizewinning economist milton friedman and anna j. Planet money anna did all of the work, and i got most of the recognition, the nobel prizewinning economist milton friedman once said. Themoneyillusion anna schwartz and andrew sarris, rip.
Nonmonetary effects of the financial crisis in the propagation of the great depression ben s. Economist anna schwartz cowrote classic on us monetary history. This paper examines the effects of the financial crisis of the 1930s onthe path of aggregate output during that period. Ben bernankes labor day reading list deal journal wsj. Nobel laureate milton friedman on the influential 1963 book, and she wrote. Feisty, fearless economist anna schwartz dead at 96.
Jun 25, 2012 feisty, fearless economist anna schwartz dead at 96. Jul 26, 2009 ben bernankes extreme ease of monetary policy will only increase the severity of the recession. Bernanke is fighting the last war everything works much better when wrong decisions are punished and good decisions make you rich. Ben bernanke on the financial crisis financial post. The best books on learning from the great depression a five. Bernanke served as chairman of the federal reserve from 2006 to 2014. This is the argument that the federal reserve caused the great depression, prompting ben bernankes famous apology to the. Anna schwartz, the economist, who has died aged 96, collaborated with. Anna jacobson schwartz was an american economist who worked at the national bureau of economic research in new york city and a writer for the new york times. Ben bernanke, now chairman of the fed, has called the 888page. Anna schwartz was an expert economist and brilliant academic who is best known. Anna schwartz, the economist, who has died aged 96, collaborated with milton friedman on a classic study of the great depression that has had a direct impact on the way in which modern central.
Anna schwartz was an expert economist and brilliant academic who is best known for her collaboration with economist milton friedman, a monetary history of the united states 18671960. New preface by anna jacobson schwartz ix introduction. Anna schwartz coauthored with milton friedman the monetary history of the us. Messy times for ben bernanke and the fed the new york times. Jun 22, 2012 anna schwartz, an economist and co author with milton friedman of a book on monetary policy that shaped the views of central bankers including federal reserve chairman ben s. Ben bernanke, originally made on the occasion of milton friedmans 90th birthday. The great contraction, seen from the perspective of 2007 by peter l. The friedman schwartz collaboration a monetary history of the united states, 18671960, a book of nearly 900 pages published in 1963, is considered a classic.
Bernanke focused less on the role of the federal reserve and more on the role of private banks and financial institutions. The best books on the lessons of the great depression five. This is the argument that the federal reserve caused the great depression, prompting ben bernanke s famous apology to the. Bernanke, ben and a great selection of related books, art and collectibles available now at. The great contraction, 19291933 princeton university press. Bernstein xiii the great contraction, 19291933 by milton friedman and anna jacobson schwartz 1 remarks by ben s. Keynes was more contemporary, so maybe had not as much perspective. Anna schwartz, ben bernanke, bength holmstrom, charles kindleberger, gary gorton, john hicks, lawrence summers, milton friedman, paul samuelson, peter temin, timothy geithner, walter bagehot. 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. Anna schwartz, an economist and coauthor with milton friedman of a book on monetary policy that shaped the views of central bankers, died june 21 in new york city. Anna jacobson schwartz is a research associate at the national bureau of.
Aug 29, 2012 anna schwartz, the economist, who has died aged 96, collaborated with milton friedman on a classic study of the great depression that has had a direct impact on the way in which modern central. Schwartz, a research economist who wrote monumental works on. Fed chief ben bernanke suggests some dry, but important reading to consider. Sep 01, 2007 in 2002 ben bernanke then a federal reserve governor, today the chairman of the board of governors made this startling admission in a speech given in honor of friedmans 90th birthday. Schwartz utile mais courte, et le discours prononce par bernanke. Anna schwartz anna schwartz, the economist, who has died aged 96, collaborated with milton friedman on a classic study of the great depression that has had a direct impact on the way in which.
A monetary history of the united states, 18671960 by milton friedman and anna schwartz is an epic in economic literature. Its almost certainly the most influential book on macro history ever written, and i view. Anna schwartz, an economist and coauthor with milton friedman of a book on monetary policy that shaped the views of central bankers, including federal reserve chairman ben s. Youre better off reading milton friedman and anna jacobson schwartz s a monetary history of the united states, which i think is a better account. Nonmonetary effects of the financial crisis in the. Anna schwartz was his coauthor for what would become one of the most important volumes of economic scholarship of the entire 20th century. Oped in opposition to january 2010 reappointment of ben bernanke as federal reserve board chair. She earned the titles of distinguished fellow at the american economic association and fellow at. Jun 22, 2012 anna schwartz, an economist and coauthor with milton friedman of a book on monetary policy that shaped the views of central bankers, including federal reserve chairman ben s.
Milton friedman and anna schwartz in 1963 published a monetarist interpretation that revolutionized our understanding. Bernanke, the federal reserve chairman, called it the leading and. Marginal revolution university video for anna schwartz. Anna schwartz, economist and collaborator with friedman. Shiller describes the book as the most influential account of the great depression. Schwartz collaborated with milton friedman, who is a nobel economics prize winner, on a monetary history of the united states, 18671960, which was published in 1963. Prior to his career in public service, he was a professor of economics at princeton university. A memoir of a crisis and its aftermath, and principles of microeconomics, and more on. In 2002 ben bernanke then a federal reserve governor, today the chairman of the board of governors. New edition princeton classic editions friedman, milton, schwartz, anna jacobson, schwartz, anna jacobson, bernstein, peter l.
Jan 22, 2020 ben bernanke praised the research, saying in a speech that schwartz and friedman were right to blame the federal reserve for the great depression, and that thanks to them, the federal reserve wont make the same mistake again. I bought the book when i was a teenager, and have read it many times although i dont recall ever finishing it. Bernanke has 88 books on goodreads with 9487 ratings. Paul krugman once said that schwartz is one of the worlds greatest monetary scholars. November 11, 1915 june 21, 2012 was an american economist who worked at the national bureau of economic research in new york city and a writer for the new york times. The authors concisely analyze nearly 100 years of monetary history and prove why monetary economics matter. Former federal reserve chairman ben bernanke referred to a monetary. Episodes in monetary history harvest book milton friedman. I felt so enthralled that although id borrowed the kindle version from the library, i wound up purchasing it so i can reread later.
A memoir of a crisis and its aftermath, by ben bernanke norton, 624 pp. Pretty much every central bank in operation today lifts its policies directly from the books pages. Anna schwartz, however, was highly critical of bernanke and wrote an opinion piece in the new york times advising obama against his reappointment as chair of the federal reserve. This book placed the blame for the great depression at the door of the federal. The best books on the lessons of the great depression. Jun 21, 2012 anna schwartz by david shankbone photo credit. Since then, the federal reserve and the treasury have taken a series. It also reprints comments from the current federal reserve chairman, ben bernanke, originally made on the occasion of milton friedmans 90th birthday, on the enduring influence of friedman and. Two people just passed away who had a big impact on my worldview. Ben bernanke, the federal reserve chairman, called it the leading and most persuasive explanation of the worst economic disaster in american history. Milton friedman author, anna jacobson schwartz author format.
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