Friedman, Milton. 1982. Capitalism and Freedom. Chicago/London: The University of Chicago Press. Originally published in 1962. Google Scholar Friedman, Milton, and Anna J. Schwartz. 1963. A Monetary History of the United States, 1867–1960. Princeton: Princeton University Press. Google Scholar ...
Milton Friedmanbelieved that government-caused market failures tended to lead to increasing failures. For example, he posited that the Fed's actions in the wake of the market crash of 1929 indirectly led to the bank runs that contributed to the Great Depression.5 Regime uncertainty:Economic histo...