Question

1) Discuss an economic concept or an aspect of the life of Anna Schwartz that you find interesting. You need to CLEARLY identify the source (i.e. name of the book and page, or link of the video and time, or name and link of the website). It is preferred that you use academic resources or books from the library. 2) How will you apply what you have learnt about Anna Schwartz in your life?

Answer 1

1) Anna Schwartz is one of the world's greatest monetary scholars. She revised her views on the importance of monetary policy and her interpretation of the movement of interest rate .She also examined the role of money in the business cycle. In her book , A Monetary History of The United States,she states that changes in monetary policy have large effects on the economy.She stated that price level stability is essential for financial system stability. If the effects of business failures are not allowed to spread through the financial system,then business failures will not affect the economy.She also stated that individual business should be allowed to fail ,not supported by the money of the tax payers.She also worked on the role of government in monetary policy,banks output measurement,on deflation,on the interest rate behaviour,on monetary standards etc.

Link --Anna Jacobson Schwartz|American Economist|Britanica.,Anna Schwartz Wikipedia,Anna Schwartz invesotpadia.

2)I have learnt to be ambitious and patient from Anna Schwartz and would like to apply in my life.She said that difficulties  and complexities are not the same thing and so we should be ambitious in a proper way.She said it is necessary to first decide what we want to do and then find ways to do it.I learned to do work with enthusiasm and delight .Another lesson is to take time to have pleasure in the pleasures of life.