From the author of Keynes Hayek, the next great duel in the history of economics. In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes’s General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles. Samuelson, a forbidding technical genius, grew up a child of relative privilege and went on to revolutionize macroeconomics. He wrote the best-selling economics textbook of all time, famously remarking "I don’t care who writes a nation’s laws—or crafts its advanced treatises—if I can write its economics textbooks." His friend and adversary for decades, Milton Friedman, studied the Great Depression and with Anna Schwartz wrote the seminal books The Great Contraction and A Monetary History of the United States. Like Friedrich Hayek before him, Friedman found fortune writing a treatise, Capitalism and Freedom, that yoked free markets and libertarian politics in a potent argument that remains a lodestar for economic conservatives today. In Wapshott’s nimble hands, Samuelson and Friedman’s decades-long argument over how—or whether—to manage the economy becomes a window onto one of the longest periods of economic turmoil in the United States. As the soaring economy of the 1950s gave way to decades stalked by declining prosperity and "stagflation," it was a time when the theory and practice of economics became the preoccupation of politicians and the focus of national debate. It is an argument that continues today.
67 Ibid., p. 80. 68 Ibid., pp. 79–80. 69 F. A. Hayek in Commanding Heights, PBS, ... “The Economics of Leon Hirsch Keyserling,” Journal of Economic Perspectives, vol. 11, no. 4, Fall 1997, pp. 189–197. 15 Oral history interview with ...
Looks at the effect of money on output from a theoretical and practical perspective.
Venturing beyond physics, Bridgman opined, I believe that many of the questions asked about social and philosophical subjects will be found to be meaningless when examined from the point of view of operations. It would doubtless conduce ...
This volume assesses the importance of the full range of Friedman's ideas, from his work on methodology in economics, his highly innovative consumption theory, and his extensive research on monetary economics, to his views on contentious ...
Trenchant, sweeping, and empirical, Seven Bad Ideas resoundingly disrupts the status quo of modern economic theory.
This book explains and assesses the ways in which micro, welfare and benefit-cost economists view the world of public policy.
This book examines the rise and diffusion of free-market thinking, from the early 20th Century through to the age of Obama.
Cagan, Phillip D. 1956. “The Monetary Dynamics of Hyperinflation. ... Colander, David.1995.“The Stories WeTell: A Reconsideration of AS/AD Analysis. ... Garrison, Roger W. 2001. Time and Money. London: Routledge. Gwartney, James D.
Carol Reed - director of thirty-four films, among them Odd Man Out, The Fallen Idol, Outcast of the Islands, Mutiny on the Bounty and, of course, the great postwar classic...
In The Sphinx, Nicholas Wapshott recounts how an ambitious and resilient Roosevelt—nicknamed "the Sphinx" for his cunning, cryptic rapport with the press—devised and doggedly pursued a strategy to sway the American people to abandon ...