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Capping the price of energy: but at what cost?

NOTABLE ECONOMISTS

Anna Schwartz

In this volume of ECONOMIC REVIEW, Chris Jones introduces some notable economists. Here, he considers Anna Schwartz’s research into the US government’s role in money circulation

Anna Schwartz spent most of her career as a researcher at the National Bureau of Economic Research — an American private non-profit organisation that conducts and disseminates non-partisan economic research. It is most well-known for estimating the start and end dates of US recessions.

It was at this organisation that Anna met future Nobel prizewinning economist Milton Friedman. Together, in 1963, they wrote one of the most important books published in economics in the twentieth century: A Monetary History of the United States, 1867–1960. This work gave rise to what became labelled as Monetarism — aschool of economic thought that emphasises the role of government in controlling the amount of money in circulation.

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Capping the price of energy: but at what cost?