Friedman and Schwartz's A Monetary History of the United States, 1867-1960, published in 1963, stands as one of the most influential economics books of the twentieth century. A landmark achievement, the book marshaled massive historical data and sharp analytics to support the claim that monetary policy--steady control of the money supply--matters profoundly in the management of the nation's economy, especially in navigating serious economic fluctuations. The chapter entitled "The Great Contraction, 1929-33" addressed the central economic event of the century, the Great Depression. Published as a stand-alone paperback in 1965, The Great Contraction, 1929-1933 argued that the Federal Reserve could have stemmed the severity of the Depression, but failed to exercise its role of managing the monetary system and ameliorating banking panics. The book served as a clarion call to the monetarist school of thought by emphasizing the importance of the money supply in the functioning of the economy--a concept that has come to inform the actions of central banks worldwide. This edition of the original text includes a new preface by Anna Jacobson Schwartz, as well as a new introduction by the economist Peter Bernstein. It also reprints comments from the current Federal Reserve chairman, Ben Bernanke, originally made on the occasion of Milton Friedman's 90th birthday, on the enduring influence of Friedman and Schwartz's work and vision.

The Republican efficiency expert whose economic boosterism met its match in the Great Depression Catapulted into national politics by his heroic campaigns to feed Europe during and after World War I, Herbert Hoover—an engineer by training—exemplified the economic optimism of the 1920s. As president, however, Hoover was sorely tested by America's first crisis of the twentieth century: the Great Depression. Renowned New Deal historian William E. Leuchtenburg demonstrates how Hoover was blinkered by his distrust of government and his belief that volunteerism would solve all social ills. As Leuchtenburg shows, Hoover's attempts to enlist the aid of private- sector leaders did little to mitigate the Depression, and he was routed from office by Franklin D. Roosevelt in 1932. From his retirement at Stanford University, Hoover remained a vocal critic of the New Deal and big government until the end of his long life. Leuchtenburg offers a frank, thoughtful portrait of this lifelong public servant, and shrewdly assesses Hoover's policies and legacy in the face of one of the darkest periods of American history.

John Kenneth Galbraith's classic study of the Wall Street Crash of 1929.

"The World in Depression is the best book on the subject, and the subject, in turn, is the economically decisive decade of the century so far."--John Kenneth Galbraith

Years before the Dust Bowl exodus raised America’s conscience to the plight of its migratory citzenry, an estimated one to two million homeless, unemployed Americans were traversing the country, searching for permanent community. Often mistaken for bums, tramps, hoboes or migratory laborers, these transients were a new breed of educated, highly employable men and women uprooted from their middle- and working-class homes by an unprecedented economic crisis. The Homeless Transient in the Great Depression investigates this population and the problems they faced in an America caught between a poor law past and a social welfare future. The story of the transient is told from the perspective of the federal, state, and local governments, and from the viewpoint of the social worker, the community, and the transient. In narrowing the focus of the study from the national to the state level, Joan Crouse offers a close and sensitive examination of each. The choice of New York as a focal point provides an important balance to previous literature on migrancy by shifting attention from the Southwest to the Northeast and from a preoccupation with rejection on the federal level to the concerted effort of the state to deal with the non-resident poor in a humane yet fiscally responsible manner.

This 1988 book focusses on why the American economy failed to recover from the downturn of 1929-33.