Book notes: American default, by Sebastian Edwards
Edwards’ book is fascinating, well written, relating one of US’s forgotten chapters of history
Sebastian Edwards, American default: The untold story of FDR, the Supreme Court, and the battle over gold, Princeton University Press, 2018, 288 pages
How can US gold and monetary policy in the 1930s be an “untold story”? The dramatic tightening of monetary policy in the US, followed eventually by its easing, is covered over several chapters of Friedman and Schwartz’s great book A monetary history of the United States, and again in Allan Meltzer’s masterly history of the Federal Reserve. The
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