Marginal Revolution University video for Anna Schwartz

It is excellent, one of my favorite MRU videos to date:

Here is some text from the release email:

The second episode of Women In Economics is out today! Join Harvard’s Claudia Goldin, UC Berkeley’s Christina Romer, and more on an insightful, engaging look at Anna Jacobson Schwartz’s life and achievements.

Did you know that Anna graduated from high school at 15?

Or that her dissertation couldn’t be published because of paper rationing during World War II? Yet despite this setback, she went on to coauthor one of the most important books about monetary policy and the Great Depression. Because of her work, she was hailed as one of the leading monetary economists of the 20th century by the end of her career!

We’re so excited to share Schwartz’s incredible story—click here to watch the video!

We’re also excited to announce our next video in our Women in Econ series, about Janet Yellen, will be released on March 8th. It will feature Yellen in her own words, along with Ben Bernanke and Christina Romer. Stay tuned!

Recommended.

Comments

Release e-mail for youtube videos - who ever imagined the progress we would be making in distributing information. No paper rationing standing in the way distributing whatever information strikes someone's fancy.

How can one sign up for such e-mails?

If you enter your email, you'll get an email once a month on new video releases here. https://mru.org/subscribe

I don’t think not being able to publish a dissertation counts as some great obstacle or difficulty worth mentioning. It was World War II after all. Seems a bit condescending to be honest. In Deidre’s video we learn she has been shunned by her own family but she doesn’t make a complaint about it.

Think of it as an interesting fact.

I like her contribution.

Schwartz and Friedman collaborated on research that closely examined the role of money in the business cycle and placed most of the blame for the Great Depression on ill-conceived monetary policy. Ben Bernanke praised the research, saying in a speech that Schwartz and Friedman were right to blame the Federal Reserve for the Great Depression, and that thanks to them, the Federal Reserve won't make the same mistake again. But that begs the question: what mistake? Was it the contractionary monetary policy implemented by the Fed? Not long before her death, Schwartz criticized the Fed and Bernanke specifically for maintaining persistently low interest rates following the 2007-08 financial crisis. In the 1970s and 1980s, Schwartz devoted much of her research to the financial system, and the conditions for financial stability. Her conclusion was that price level stability is essential to financial system stability. My question: what prices, consumer prices or asset prices, or both? The two greatest financial crises in America (1929 and 2008) were preceded by asset bubbles. Did Schwartz believe the Fed should implement contractionary measures to deflate asset bubbles, a pre-emptive move to avoid a financial crisis? That's contrary to conventional wisdom. Given her time (the 1970s and 1980s), one could assume Schwartz was focused on consumer price stability not asset price stability. Was her criticism of Bernanke attributable to her concern for consumer price stability or asset price stability? Of course, since the 2008 financial crisis, the Fed's policy has been, first, to re-inflate asset prices (in part to rebuild bank balance sheets), and, second, to maintain asset prices (relying on rising asset prices for prosperity).

Incredible!!!1! Women are awesome!

Women in Economics? Are you going to do Short People in Economics, Tall People in Economics, Fat People in Economics?

Judging by one of Jim Watson's famous quips, fatsos may need protection in academic life, which apparently is infested by girthists.

#edgy #fightingthegoodfight

I don't think big people need other big people inspire them be to econmists. I don't think being fat or short is generally the first layer of identity. At least not professionally, maybe personally.

I'm not "woke" and usually find this sort of stuff patronizing but imagine what it must be like to be Black or a woman and walk into an all white/asian classroom to take physics 101. They all have imposter syndrome.

They didn’t have that reputation in the 1940’s. Asians have developed that post war by their behavior.

Bah, you great Jessie.

My grandmothers have been my guiding lights. Two extraordinary women, but in very different ways, one with little in the way of a formal education but with an innate talent in business and for spotting a business opportunity, the other with a formal education way beyond what was accepted for women of her era and a successful professional career that lasted until she was in her 80s. Dr. Schwartz was of my parents' generation, not my grandparents' (who were born in the 19th century). Even today, women have to do more to be accepted as equals, whether in business, the professions, or academia. We are much better for their contributions, whether their contributions are recognized or not. An aside, that Friedman would accept Schwartz as an equal speaks volumes for the kind of man he was.

LOL I can't even! ROTFL!

any chance you\ll do a CWT with Mona Eltahawy?

https://twitter.com/monaeltahawy/status/1219732373346177032

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