Samuelson Friedman: The Battle Over the Free Market

In 1966, Paul Samuelson and Milton Friedman debated the world of business and economics, shaping the longest period of economic turmoil in the US. Their argument continues today.

Format: Hardback
Length: 384 pages
Publication date: 03 September 2021
Publisher: WW Norton & Co

Two renowned columnists graced the pages of Newsweek magazine in 1966, tasked with engaging in a spirited debate about the world of business and economics. Paul Samuelson, a towering figure in Keynesian economics, firmly advocated for the management of the economy along the principles prescribed by John Maynard Keyness's General Theory. On the other hand, Milton Friedman, a relatively unknown economist at the time, championed "monetarism," advocating for the Federal Reserve to maintain tight control over the circulation of money in the economy.

Author and journalist Nicholas Wapshott skillfully weaves together the decades-long argument between Samuelson and Friedman, offering a captivating window into one of the most prolonged periods of economic turmoil in the United States. As the vibrant economy of the 1950s gave way to decades characterized by declining prosperity and the phenomenon known as "stagflation," economics became a central concern for politicians and the subject of intense national debate. This argument, which continues to resonate today, sheds light on the evolving theories and practices of economics during a pivotal era in American history.

Weight: 620g
Dimension: 165 x 242 x 35 (mm)
ISBN-13: 9780393285185