Modern finance · 1950s–1990s
1963
Money matters
Milton Friedman and Anna Schwartz trace how the money supply shaped US history.
A Monetary History of the United States (1963) argued that a collapse in the money supply turned the downturn of 1929 into the Great Depression.
💡 Why it made sense then
It changed how central banks think about their job in a crisis.
Ideas it gave us
- 🌍 Money supply
The money supply is the total amount of money in an economy. M1 counts cash and checking deposits; M2 adds savings and other near-money.
Practise with $10,000 in play money
Free. No real money involved.