Anna Jacobson Schwartz often gets buried under the mountains of study Milton Friedman conducted on his own. Contrary to what some, perhaps many, might think, Friedman didn’t write A Monetary History by himself. Anna Schwartz was his co-author for what would become one of the most important volumes of economic scholarship of the entire 20th century.Pretty much every central bank [...]
When former Dallas Fed President Richard Fisher stepped down last March after a decade in that role, the New York Times (of course) wrote his professional obituary under the headline Richard Fisher, Often Wrong But Seldom Boring. Fisher had apparently viewed his own philosophical root and career at the Fed as something of an updated Paul Volcker, not surprising given [...]
At some point in the middle of the last century, economics of money shifted to economics of psychology. When Milton Friedman wrote his 1963 book, A Monetary History, it was an effort that uncovered the role of money in the collapse of the Great Depression as he and his co-author, Anna Schwartz, saw it. Whether or not it was a [...]
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