Anna Schwartz and Milton Friedman published their groundbreaking book on November 8, 1963.
On November 8, 1963, economists Anna Schwartz and Milton Friedman published their iconic book "A Monetary History of the United States, 1867-1960." The book challenged existing economic doctrines by highlighting the pivotal role of monetary policy in the economic events of the 20th century. Particularly, it re-evaluated the Great Depression, arguing that the Federal Reserve's monetary policies significantly contributed to the economic downturn. The book has been hailed for altering how economists and policymakers view the influence of monetary supply and has been essential reading in the field ever since. Schwartz's empirical approach provided a robust foundation for modern monetary economics.