What Would Milton Friedman Have Thought of the Great Recession

Milton Friedman died in , right before the onset of the Great Recession. Unfortunately, we will never know how Friedman would have interpreted this event. However, we can draw some inferences from his published views on the Great Depression, as well as his views on more recent monetary policy, especially in Japan. It seems likely that Friedman would have blamed the Fed for insufficiently expansionary monetary policy during 2008 and 2009, a view that is quite different from the conventional conservative interpretation of events

Economics · Great Depression · Great recession · Interpretation (philosophy) · Keynesian economics · Monetary policy · Political science · Positive economics · Recession · Economic Theory and Policy · Global Financial Crisis and Policies · Law · Monetary Policy and Economic Impact · Philosophy

• The Midway and Beyond

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• A Monetary History of the United States, 1867-1960

  Milton Friedman, Audrey James Schwartz et al.•Monetary History of the United…•2008

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• David Hume

  Joseph J Spengler, Eugene Rotwein•Southern Economic Journal•1956

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• The Role of Monetary Policy

  M Friedman, Mark J Friedman•Essential readings in economics•1995

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• Gold, France, and the Great Depression, 1919-1932

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• Phillips Curves, Expectations of Inflation and Optimal Unemployment over Time

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• Free Banking and Monetary Reform

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• It's Baaack

  Paul R Krugman, Paul Krugman et al.•Brookings Papers on Economic…•1998

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• A Monetary History of the United States, 1867-1960

  Milton Friedman, Audrey James Schwartz et al.•The SHAFR Guide Online•2017

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• Why Does the Economy Fall to Pieces after a Financial Crisis

  Open Access•R E Hall•The Journal of Economic…•2010

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• The Triumph of Monetarism

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