I am not an economist. I thoroughly enjoy Milton Friedman's other works and his various discussions on economics/ politics. This book is not geared towards a popular audience like his others but is still accessible to someone like me. Some parts of the book delve into technical data and charts but you can still gain meaningful knowledge without fully grasping the technical aspects. The book covers a century of monetary history so it is understandable lengthy, but it also has numerous charts and extensive footnotes at the bottom of most pages, which makes the reading go by fairly quickly. Do not pass up this unique and intriguing opportunity because of the books length or technical discussions.
Friedman and Schwartz lay out clear, logical arguments to show the importance of monetary policy on the economy, They cover all of the panics and pay substantial attention to the great depression, offering unconventional views with logic demonstrating why the typical views are misguided. They also weave politics into the narrative and demonstrate the significance of not only what the policies are, but who is in charge. They contend the history of the US (and the world) would have been drastically different if Benjamin Strong didn't pass away as early as he did.
The writing is clear and engaging, the passion of the authors shines throughout the entire narrative. While this book would be more preferable to an educated economist, it is still more than worthwhile for anyone interested in the history of America from a unique perspective and the topics covered are still highly relevant today.
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