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A Monetary History of the United States
''A Monetary History of the United States, 1867–1960'' is a book written in 1963 by Nobel Prize–winning economist Milton Friedman and Anna J. Schwartz. It uses historical time series and economic analysis to argue the then novel proposition that changes in the money supply profoundly influenced the US economy, especially the behavior of economic fluctuations. The implication is that monetary policy should control the money supply. Economic historians see it as one of the most influential economics books of the century.〔Michael D. Bordo, and Hugh Rockoff, "Not Just the Great Contraction: Friedman and Schwartz's A Monetary History of the United States 1867 to 1960," ''American Economic Review'' (May 2013), 103#3 pp 61-65.〕
==Authorship==
Milton Friedman and Anna Schwartz were working at the National Bureau of Economic Research (NBER) when the future chairman of the Federal Reserve, Arthur Burns, suggested that they collaborate on a project to analyze the effect of the money supply on the business cycle. Schwartz was already gathering much of the relevant historical data at that point, while Friedman was already a professor at the University of Chicago and also at the NBER. They began work in the late 1940s and eventually published '' A Monetary History'' through Princeton University Press in 1963. The Depression-related chapter "The Great Contraction" was republished as a separate section in 1965〔Feldstein, Martin. "Remarks made by Martin Feldstein April 14, 2000 at a dinner honoring Anna Schwartz's 85th birthday." ''Anna Schwartz at the National Bureau of Economic Research.'' Retrieved March 15, 2011 http://www.nber.org/feldstein.schwartz.html〕
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