Milton Friedman is widely recognized as one of the most influential economists of the twentieth century. Yet no previous study has distilled Friedman's vast body of writings into an authoritative account of his research, his policy views, and his interventions in public debate. With this ambitious new work, Edward Nelson closes the gap: Milton Friedman and Economic Debate in the United States is the defining narrative on the famed economist, the first to grapple comprehensively with Friedman's research output, economic framework, and legacy. This two-volume account provides a foundational introduction to Friedman's role in several major economic debates that took place in the United States between 1932 and 1972. The first volume, which takes the story through 1960, covers the period in which Friedman began and developed his research on monetary policy. It traces Friedman's thinking from his professional beginnings in the 1930s as a combative young microeconomist, to his wartime years on the staff of the US Treasury, and his emergence in the postwar period as a leading proponent of monetary policy. The second volume covers the years between 1960 and 1972-- years that saw the publication of Friedman and Anna Schwartz's Monetary History of the United States. The book also covers Friedman's involvement in a number of debates in the 1960s and 1970s, on topics such as unemployment, inflation, consumer protection, and the environment. As a fellow monetary economist, Nelson writes from a unique vantage point, drawing on both his own expertise in monetary analysis and his deep familiarity with Friedman's writings. Using extensive documentation, the book weaves together Friedman's research contributions and his engagement in public debate, providing an unparalleled analysis of Friedman's views on the economic developments of his day.

Milton Friedman and Economic Debate in the United States, 1932–1972, Volume 1

Biographies & Memoirs

Nelson, Edward

Professionals & Academics

University of Chicago Press

Product Description 
Milton Friedman is widely recognized as one of the most influential economists of the twentieth century. Yet no previous study has distilled Friedman’s vast body of writings into an authoritative account of his research, his policy views, and his interventions in public debate. With this ambitious new work, Edward Nelson closes the gap: 
Milton Friedman and Economic Debate in the United States is the defining narrative on the famed economist, the first to grapple comprehensively with Friedman’s research output, economic framework, and legacy.\nThis two-volume account provides a foundational introduction to Friedman’s role in several major economic debates that took place in the United States between 1932 and 1972. The first volume, which takes the story through 1960, covers the period in which Friedman began and developed his research on monetary policy. It traces Friedman’s thinking from his professional beginnings in the 1930s as a combative young microeconomist, to his wartime years on the staff of the US Treasury, and his emergence in the postwar period as a leading proponent of monetary policy. The second volume covers the years between 1960 and 1972— years that saw the publication of Friedman and Anna Schwartz’s 
Monetary History of the United States. The book also covers Friedman’s involvement in a number of debates in the 1960s and 1970s, on topics such as unemployment, inflation, consumer protection, and the environment.\nAs a fellow monetary economist, Nelson writes from a unique vantage point, drawing on both his own expertise in monetary analysis and his deep familiarity with Friedman’s writings. Using extensive documentation, the book weaves together Friedman’s research contributions and his engagement in public debate, providing an unparalleled analysis of Friedman’s views on the economic developments of his day. 
 Review \n“Magisterial. . . For anyone wanting to understand the ideas that Friedman generated over his research career, this book is, and will remain for some time, the essential guide.” 
 ― 
Financial World\n"Edward Nelson knows more about Milton Friedman’s economics than anyone else alive. In two weighty volumes, he begins to share that knowledge with us. . . .Readers of the two chronological parts—even those who have already studied carefully Friedman’s major works—will learn much more from Nelson about the incredible breadth and diversity of Friedman’s academic research." 
 -- Peter N. Ireland ― 
Business Economics\n"Volume 2 of a two-volume set presents a composite picture of Milton Friedman’s theoretical positions and policy conclusions, how they informed his interactions with economists and policy makers, and how they shaped his commentary on economic policy in the United States, focusing on the years 1961 to 1972." 
 ― 
Journal of Economic Literature\n“This monumental masterpiece will be the definitive work on Milton Friedman’s contributions to monetary economics and his role in the major economic debates in the United States. Nelson, an eminent specialist in monetary economics, casts a wide net over Friedman’s publications, interviews, and other public statements and provides a fascinating, illuminating, and complete analysis of the evolution of Friedman’s economic views into a coherent and consistent framework. An indispensable read and reference for a thorough and deep understanding of Friedman’s work and his impact on the major economic debates of the time.” 
 -- Lars E. O. Svensson, Stockholm School of Economics\n“Nelson has produced a masterful and unique narrative of Milton Friedman’s extensive participation in American debates on economic policy and theory up to 1972, with attention to its interplay with Friedman’s biographical trajectory and episodes in American economic history. These two volumes, partly based on archival material and several interviews, shed new light on one of the most influential economists of the twentieth century and his intell

Milton Friedman and Economic Debate in the United States, 1932–1972, Volume 2

These notes are based on a course of lectures given by Professor Nelson at Princeton during the spring term of 1966. The subject of Brownian motion has long been of interest in mathematical probability. In these lectures, Professor Nelson traces the history of earlier work in Brownian motion, both the mathematical theory, and the natural phenomenon with its physical interpretations. He continues through recent dynamical theories of Brownian motion, and concludes with a discussion of the relevance of these theories to quantum field theory and quantum statistical mechanics.

Dynamical Theories of Brownian Motion (Mathematical Notes, 106)

Science & Math

Mathematics

Princeton University Press

These notes are based on a course of lectures given by Professor Nelson at Princeton during the spring term of 1966. The subject of Brownian motion has long been of interest in mathematical probability. In these lectures, Professor Nelson traces the history of earlier work in Brownian motion, both the mathematical theory, and the natural phenomenon with its physical interpretations. He continues through recent dynamical theories of Brownian motion, and concludes with a discussion of the relevance of these theories to quantum field theory and quantum statistical mechanics.Originally published in 1967.The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Tensor Analysis (Monographs in Population Biology, 74)

Kinematical problems of both classical and quantum mechanics are considered in these lecture notes ranging from differential calculus to the application of one of Chernoff's theorems.Originally published in 1970.The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Topics in dynamics I: Flows (Mathematical notes)

Quantum Fluctuations (Princeton Series in Physics)

Stochastic mechanics is a description of quantum phenomena in classical probabilistic terms. This work contains a detailed account of the kinematics of diffusion processes, including diffusions on curved manifolds which are necessary for the treatment of spin in stochastic mechanics. The dynamical equations of the theory are derived from a variational principle, and interference, the asymptotics of free motion, bound states, statistics, and spin are described in classical terms.
 In addition to developing the formal mathematical aspects of the theory, the book contains discussion of possible physical causes of quantum fluctuations in terms of an interaction with a background field. The author gives a critical analysis of stochastic mechanics as a candidate for a realistic theory of physical processes, discussing measurement, local causality in the sense of Bell, and the failure of the theory in its present form to satisfy locality.

Physics

This book develops arithmetic without the induction principle, working in theories that are interpretable in Raphael Robinson's theory Q. Certain inductive formulas, the bounded ones, are interpretable in Q. A mathematically strong, but logically very weak, predicative arithmetic is constructed.Originally published in 1986.The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Predicative Arithmetic (Mathematical Notes, Vol. 32)

Using only the very elementary framework of finite probability spaces, this book treats a number of topics in the modern theory of stochastic processes. This is made possible by using a small amount of Abraham Robinson's nonstandard analysis and not attempting to convert the results into conventional form.

Radically Elementary Probability Theory (Annals of Mathematics Studies)

Using only the very elementary framework of finite probability spaces, this book treats a number of topics in the modern theory of stochastic processes. This is made possible by using a small amount of Abraham Robinson's nonstandard analysis and not attempting to convert the results into conventional form.

Radically Elementary Probability Theory. (AM-117)

See the best price to sell, buy, or rent books by Nelson, Edward. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by Nelson, Edward

See the best price to sell, buy, or rent books by Nelson, Edward. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Milton Friedman and Economic Debate in the United States, 1932–1972, Volume 1

Milton Friedman and Economic Debate in the United States, 1932–1972, Volume 2

Dynamical Theories of Brownian Motion (Mathematical Notes, 106)

Tensor Analysis (Monographs in Population Biology, 74)

Topics in dynamics I: Flows (Mathematical notes)

Quantum Fluctuations (Princeton Series in Physics)

Quantum Fluctuations (Princeton Series in Physics)

Predicative Arithmetic (Mathematical Notes, Vol. 32)

Radically Elementary Probability Theory (Annals of Mathematics Studies)

Radically Elementary Probability Theory. (AM-117)