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This working paper provides a longitudinal perspective on the business history of solar energy between the nineteenth century and the present day. It covers early attempts to develop solar energy, the...
For the past 13 years, U.S. trade policy has been on a steady course toward increased protectionism. A policy to reduce tariffs across the board among all trading nations has been paralleled by effo...
The failures in 1985 of deposit insurance programs in Maryland and Ohio, along with the present difficulties of the Federal Savings and Loan Insurance Corporation (FSLIC) andthe Federal Deposit Insu...
In his lively and provocative paper, Charles Baird seeks to establish that “the economics of James Buchanan has much in common with modern Austrian economics.” I am prepared to agree that Baird has ...
In 1988 labor union membership in the United States declined to 16.8 percent of the labor force. In the private sector the figure was 13 percent, and in government employment it was 37 percent (BNA,...
In 1920 Australia transferred control of the note issue from the Treasury to a newly created authority, the Notes Issue Board. This paper recounts the background to the Board’s establishment, the p...
The Great Monetary Paradox Most conventional economists are very much aware of markets. Indeed, a sound understanding of the function of markets and prices is what distinguishes economists from eve...
The introduction to A Monetary History starts with this sentence: “This book is about the stock of money in the United States” (p. 3). Milton Friedman and Anna Schwartz show convincingly that failur...
In 1963, the American Bankers Association invited the late James Tobin and me to review A Monetary History of the United States at a conference held at Princeton. At the time, I wrote and subsequent...
I doubt that those who were present at the publication of A Monetary History would have predicted that it would still attract readers after 40 years. I can think of two reasons for this unexpected o...
It is a source of real gratification that Anna Schwartz’s and my book should be deemed worthy of a retrospective after 40 years. The extensive research of the past 40 years plus the additional 40 ye...
The unfamiliar, however simple, is often hard to understand because it requires a slightly different way of thinking. Official dollarization is a case in point. It is hard to conceive of a simpler m...

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