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A Program For Monetary Stability Paperback – January 1, 1983

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Product Details

  • Paperback: 110 pages
  • Publisher: Fordham University Press; Reprint edition (January 1, 1983)
  • Language: English
  • ISBN-10: 0823203719
  • ISBN-13: 978-0823203710
  • Product Dimensions: 5.5 x 0.3 x 8.5 inches
  • Shipping Weight: 6.4 ounces (View shipping rates and policies)
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
  • Amazon Best Sellers Rank: #1,828,852 in Books (See Top 100 in Books)

More About the Author

Milton Friedman is a senior research fellow at the Hoover Institution, Stanford University, and the Paul Snowden Distinguished Service Professor Emeritus of Economics at the University of Chicago. In 1976 he was awarded the Nobel Prize in economics. He has written a number of books, including two with his wife, Rose D. Friedman---the bestselling Free to Choose and Two Lucky People: Memoirs, the latter published by the University of Chicago Press.

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Per usual, Friedman displays excellent analysis and thorough study of the economy, and this masterpiece rewards the reader with ground breaking ideas on how to revamp the banking system so that the economy is less prone to market failure and inefficiency while keeping a relatively low level of government intervention and maintaining a high level of personal freedom. Friedman starts by going through (although briefly) the Federal Reserve's history (of failures), and then explaining what changes he believes would make the Federal Reserve more effective in tackling recessionary issues. From there, Milton Friedman provides a "program for monetary stability," or his idea of an optimal structure to keep market players from taking advantage of a market economy.

The book itself is not very long in page count (110 pages) but in each page, Friedman stuffs multiple ideas and theories that make the book relatively dense and rich. I will admit, the book seemed slow at times, but not because the topic at hand was uninteresting or repetitive- Friedman just has a tendency to delve into complex ideas or ideas that do not seem obvious at first. If you were to purchase and read this book, I'd highly recommend reading through with another source (the internet, for example) and keeping a writing utensil and paper on hand to figure out the market shifts Friedman explains about. It's almost like reading a mathematical proof: at times, to understand the steps and conclusions Friedman makes, you must work through his reasoning to understand the argument firsthand.
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