{"product_id":"theory-and-measurement-causality-issues-in-milton-friedmans-monetary-economics-paperback-9780521022644","title":"Theory and Measurement; Causality Issues in Milton Friedman's Monetary Economics (Paperback \/ softback) 9780521022644","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eTheory and Measurement\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eCausality Issues in Milton Friedman's Monetary Economics\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cem\u003eThis 1996 work examines the history of debates between Friedman and his critics over money's causal role in business cycles from 1948 to 1991.\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eJ. Daniel Hammond (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780521022644, Cambridge University Press\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003ePaperback \/ softback, published 10 November 2005\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e252 pages, 1 b\/w illus.  2 tables\u003cbr\u003e22.9 x 15.4 x 1.6 cm, 0.381 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e'… I consider the overall scientific quality of the book excellent. Any scholar of the history of the twentieth-century macroeconomics will find it stimulating.' History of Economic Ideas\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eFocusing on the period of Milton Friedman's collaboration with Anna J. Schwartz, from 1948 to 1991, this 1996 work examines the history of debates between Friedman and his critics over money's causal role in business cycles. Professor Hammond shows that critics' reactions were grounded in two distinctive features of Friedman and Schwartz's way of doing economic analysis - their National Bureau business cycle methods and Friedman's Marshallian methodology. With the post-war dominance of Cowles Commission methods and Walrasian methodology, Friedman and Schwartz's monetary economics appeared to contemporary critics to be 'measurement without theory'. Drawing extensively upon unpublished materials, Professor Hammond's treatment offers new insights on Milton Friedman's attempts to settle debates with his critics and his eventual recognition of the methodological impediments. The book will interest monetary economists and macroeconomists, as well as historians of economics and methodologists.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eIntroduction\u003cbr\u003e 1. Theory and measurement at the National Bureau\u003cbr\u003e 2. Origins of Friedman's Marshallian methodology\u003cbr\u003e 3. Origins of the monetary project\u003cbr\u003e 4. Critiques from within the National Bureau\u003cbr\u003e 5. Post Hoc Ergo Propter Hoc, part I\u003cbr\u003e 6. Reactions to the Monetary History\u003cbr\u003e 7. Post Hoc Ergo Propter Hoc, part II\u003cbr\u003e 8. Friedman and his critics on the theoretical framework\u003cbr\u003e 9. The Great Depression\u003cbr\u003e 10. Measurement without measurement: Hendry and Ericsson's critique\u003cbr\u003e Conclusion\u003cbr\u003e Bibliography.\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Monetary economics [\u003ca title=\"See our other books on Monetary economics\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Monetary%20economics%20%5BKCBM%5D%22\"\u003eKCBM\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Cambridge University Press","offers":[{"title":"Default Title","offer_id":46006167273752,"sku":"9780521022644","price":33.39,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/products\/9780521022644i.jpg?v=1694963601","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/theory-and-measurement-causality-issues-in-milton-friedmans-monetary-economics-paperback-9780521022644","provider":"Freshly Printed Books","version":"1.0","type":"link"}