George Tavlas: The Monetarists: The making of the Chicago monetary tradition, 1927–1960: University of Chicago Press, 2023.

George Tavlas's book, "The Monetarists: The making of the Chicago monetary tradition, 1927–1960," explores the evolution of monetary economics at the University of Chicago during the early to mid-twentieth century. Tavlas argues that the Chicago monetary tradition had a unique policy agenda in the 1930s, including money-financed fiscal deficits, monetary policy rules, 100% reserve requirements for banks, and flexible exchange rates. The book highlights the contributions of various economists, such as Milton Friedman, Henry Simons, and Lloyd Mints, and challenges previous understandings of the Chicago tradition. Tavlas concludes that the Chicago economists focused on combating economic crises and developing policies to manage the velocity of money. The book is recommended for those interested in the history of economic thought and its relevance to contemporary issues. [Extracted from the article]