The Failure of the Bank of United States: A Defense of Joseph Lucia: Note

Anthony Patrick O’Brien

41 citations0/0 files storedJournal of money credit and banking

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Monetary Policy and Economic Impact Historical Economic and Social Studies Banking stability, regulation, efficiency

Abstract

In a recent article in an economic history journal, Joseph L. Lucia (1985) reappraised the analysis by Milton Friedman and Anna J. Schwartz (1963) of the failure of the Bank of United States in December 1930. In their extraordinary reply, Friedman and Schwartz (1986) question Lucia's scientific integrity, as well as the scientific standards of the journal in which Lucia's article appeared. Their opening paragraph states:

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2017A Monetary History of the United States, 1867-1960 1976Did Monetary Forces Cause The Great Depression 1980A Reconsideration of the Causes of the Banking Panic of 1930

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