Milton Friedman Economic Debate: Volume 1

Edward Nelson's monumental two-volume study of Milton Friedman's career is praised by Economic History for its deep and sophisticated understanding of monetary economics. This study distills Friedman's extensive writings into a comprehensive account of his research, policy views, and contributions to public debate, establishing itself as the defining narrative on the renowned economist.

Covering the period from 1932 to 1972, the first volume delves into Friedman's early beginnings as a young microeconomist in the 1930s, his tenure at the US Treasury during World War II, and his emergence as a leading advocate for monetary policy in the postwar era. Nelson, a fellow monetary economist, brings a unique perspective to the table, combining his own expertise with a thorough knowledge of Friedman's works.

Through meticulous documentation, this book not only highlights Friedman's research achievements but also delves into his interactions within the public sphere, offering an unparalleled analysis of his views on contemporary economic issues. Financial World lauds the study as "magisterial," declaring it to be the essential guide for anyone seeking to grasp the ideas that shaped Friedman's illustrious career.

In conclusion, Edward Nelson's groundbreaking work on Milton Friedman's career stands as a testament to the economist's enduring influence on monetary economics and public policy in the United States. This two-volume study serves as a foundational introduction to Friedman's pivotal role in shaping economic debates and policy decisions throughout the mid-20th century.

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