Σημεία των καιρών

Coming Sept. 24, a new paperback edition of Milton Friedman and Anna Jacobson Schwartz’s “The Great Contraction, 1929-33,” a chapter from their magisterial Monetary History of the United States 1867-1960 that was published as a standalone paperback in 1965. The chapter argues that the Federal Reserve could have prevented the Great Depression from being so deep and prolonged, a subject that Fed Chairman Ben Bernanke’s spent his academic career developing in research that informs his reaction to the current crisis. Along with a new preface by Schwartz as well as a new introduction by economist Peter Bernstein, the Princeton University paperback reprints the speech Bernanke gave on the late Milton Friedman’s 90th birthday.