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Discussion: (2 comments)

  1. A Monetary History , unlike the other books, has endured the test of time and has become a classic whose reputation has grown with age. It succeeded because it was based on narrative and not an explicit model. The narrative methodology pioneered by Friedman and Schwartz and the beautifully written story still captures the imaginations of new generations of economists.

    The book is overrated. They missed the fact that the 1920s boom was extended by a reckless expansion of credit in the second half of the decade and that it was that expansion that was the trigger for the Great Depression. I prefer Higgs and Rothbard’s explanations over those of Friedman and Schwartz.

    1. I agree totally its overrated,and overlooked or didn’t stress enough other obvious triggers.

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