There’s a ton of ink spilled on Milton Friedman (FT, NYT, WSJ) . Rather than add to the deluge of homages (you know my views that markets are imperfect), here is a short list of some of his best known and most influential writings:
• Capitalism and Freedom (1962)
• Monetary Policy: Theory and Practice
Journal of Money, Credit and Banking, February 1982
• The monetarist controversy
Milton Friedman and Franco Modigliani
Federal Reserve Bank of San Francisco, Spring 1977
• Inflation and Unemployment
Nobel Memorial Lecture
Nobelprize.org, Dec 13, 1976
• Have Monetary Policies Failed?
American Economic Review, May 1972
• A Monetary Theory of Nominal Income
Journal of Political Economy, April 1971
• A Theoretical Framework for Monetary Analysis
Journal of Political Economy, March 1970
• The Definition of Money: Net Wealth and Neutrality as Criteria
Journal of Money, Credit and Banking, February 1969
Milton Friedman and Anna J. Schwartz
• The Role of Monetary Policy
American Economic Review, March 1968
You now have sufficient reading to keep you busy all weekend . . .
UPDATE November 17, 2006 10:45am
Quote of the day:
"The Father of Monetarism (and proponent of free markets), Milton Friedman, died yesterday. Our friend Jimmy says Bernanke’s recent comments that trivialize money and monetary aggregates were probably too much for Milton to take."
UPDATE November 17, 2006 3:24pm
The WSj page one piece moves to the free section: How Milton Friedman Changed Economics, Policy and Markets
For the next edition of our series Blogger Spotlight: Tim Iacono and The Mess That Greenspan Made.
Tim is a software engineer in his mid-forties, living in Southern
California. He calls his blog is a "vain attempt to stave off a
mid-life crisis, and here’s hoping that it’s going to work."
This is part of our ongoing short list of excellent but somewhat overlooked
blogs that deserves a greater audience. Expect to see a post from a
different featured blogger here every Tuesday and Thursday evening,
Much has been made of the "tightening" by central
banks around the world, particularly the multi-year "baby-step" therapy applied
to short-term interest rates here in the U.S.
treatment was just concluded a few months ago under the watchful eye of Fed
Chairman Ben Bernanke – the baby steps weren’t the new Fed Chief’s idea, but he
is saddled with what they have produced.
Having wondered what effect these rising rates have had on the creation of both
consumer debt and new money, the construction of a chart showing all three laid
together is a task that has sat near the top of the To Do list around here for
It can now be checked off.
Nearly all of this data is available at the Federal Reserve website. The only
part for which one has to look elsewhere is the last six months of M3 Money
Supply – the central bank stopped divulging this data earlier this
The trend is still up -
Category: Blog Spotlight