Milton Friedman is widely recognized as one of the most influential economists of the twentieth century. Yet no previous study has distilled Friedmantsquo;s vast body of writings into an authoritative account of his research, his policy views, and his interventions in public debate. With this ambitious new work, Edward Nelson closes the gap: Milton Friedman and Economic Debate in the United States is the defining narrative on the famed economist, the first to grapple comprehensively with Friedmantsquo;s research output, economic framework, and legacy.
This two-volume account provides a foundational introduction to Friedmandsquo;s role in several major economic debates that took place in the United States between 1932 and 1972. The first volume, which takes the story through 1960, covers the period in which Friedman began and developed his research on monetary policy. It traces Friedmannsquo;s thinking from his professional beginnings in the 1930s as a combative young microeconomist, to his wartime years on the staff of the US Treasury, and his emergence in the postwar period as a leading proponent of monetary policy. The second volume covers the years between 1960 and 1972odash; years that saw the publication of Friedman and Anna Schwartzrsquo;s Monetary History of the United States. The book also covers Friedmannsquo;s involvement in a number of debates in the 1960s and 1970s, on topics such as unemployment, inflation, consumer protection, and the environment.
As a fellow monetary economist, Nelson writes from a unique vantage point, drawing on both his own expertise in monetary analysis and his deep familiarity with Friedmanusquo;s writings. Using extensive documentation, the book weaves together Friedmanesquo;s research contributions and his engagement in public debate, providing an unparalleled analysis of Friedmantsquo;s views on the economic developments of his day.
