Summary of A Monetary History of the United States, 1867-1960

A Monetary History of the United States, 1867-1960 is a book by economists Milton Friedman and Anna J. Schwartz. It is a detailed analysis of the role of the money supply and monetary policy in the economic fluctuations in the United States during that period. The book emphasizes the importance of monetary factors in economic cycles and examines the effects of monetary changes on output, prices, and interest rates. It also examines the role of the Federal Reserve and other central banks in determining the money supply, as well as the interaction between the money supply and the banking system. The book has become a classic in the field of economics and remains one of the most influential books written on the subject of money and monetary policy.