1960s
A01=Nicholas Wapshott
Author_Nicholas Wapshott
biography
business
Category=DNB
Category=JN
Category=KCA
Category=KCZ
Category=NHB
economic history
economics
eq_bestseller
eq_biography-true-stories
eq_business-finance-law
eq_history
eq_isMigrated=1
eq_isMigrated=2
eq_nobargain
eq_non-fiction
eq_society-politics
federal reserve
keynesian
milton
monetarism
newsweek
paul
stagflation
united states
us
Product details
- ISBN 9780393285185
- Weight: 616g
- Dimensions: 163 x 244mm
- Publication Date: 03 Aug 2021
- Publisher: WW Norton & Co
- Publication City/Country: US
- Product Form: Hardback
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In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes’s General Theory. Milton Friedman, little known at that time outside conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy.
In the nimble hands of author and journalist Nicholas Wapshott, Samuelson and Friedman’s decades-long argument becomes a window through which to view one of the longest periods of economic turmoil in the United States. As the soaring economy of the 1950s gave way to decades stalked by declining prosperity and “stagflation”, it was a time when the theory and practice of economics became the preoccupation of politicians and the focus of national debate. It is an argument that continues today.
Nicholas Wapshott’s many books include biographies of Margaret Thatcher and Carol Reed, Keynes Hayek: The Clash That Defined Modern Economics, and The Sphinx: Franklin Roosevelt, the Isolationists, and the Road to World War II. He lives in New York City.
