A Monetary History of the United States, 1867–1960 is a book written in 1963 by future Nobel Prize-winning economist Milton Friedman and Anna Schwartz. It uses historical time series and economic anal
Dust jacket of 1st edition, 3rd printing
Wall Street crash of 1929
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The Wall Street crash of 1929, also known as the Great Crash, was a major stock market crash in the United States which began in October 1929 with a sharp decline in prices on the New York Stock Excha
A Monetary History of the United States
…spring of 1928, the Federal Reserve began to tighten its monetary policy (resulting in rising interest rates) and continued that same policy until the Wall Street Crash of 1929. This tight monetary policy caused the economy to enter a recession in mid-1929 and triggered the stock market crash a few months later. In the fall…
Crowd gathering on Wall Street after the 1929 crash
After large market declines on October 28 and 29, The New York Times described the financial community's response to "the most disastrous trading day in the stock market's history". Margin requirements were reduced to 25%, banking leaders expressed assurance of their support, and the sentiment on Wall Street was said to be "more cheerful" after earlier declines.
Unemployed men march in Toronto.