The Monetarists: The Making of the Chicago Monetary Tradition, 1927–1960.

In "The Monetarists: The Making of the Chicago Monetary Tradition, 1927–1960," George Tavlas provides a comprehensive history of the Chicago school of monetary economics. The book explores the contributions of eight key figures, including Milton Friedman, Paul Douglas, and Jacob Viner, and their debates on issues such as the role of money in the economy and the effectiveness of monetary policy. Tavlas's research is meticulous, drawing on a wide range of sources, and the book serves as a valuable reference for scholars studying the evolution of monetary doctrines. While Friedman's work on the quantity theory of money and his empirical research had a significant impact on the group and the profession, Tavlas also highlights areas of disagreement within the Chicago monetarists. Overall, the book is a definitive history of the Chicago school and a valuable resource for researchers in the field of economic thought. [Extracted from the article]