representative money under primitive monetary systems and gold standard) other times it even seams that one of them (e.g. Thirdly, then historically sometimes one of these two dominated the other (e.g. (1) represent ative and (2) fiat, both of these rather philosophically and morally vulnerable. This is so that in its depth money is suspected in the literature to be a double controversial essence, i.e. Money is all ‘everyday’ money, Biblical issue and a pure concept to study. © 1963, by National Bureau-of Economic Research. According to Hugh Rockoff, writing in January 1965: 'If Great Depressions could be prevented through timely actions by the monetary authority (or by a monetary rule), as Friedman and Schwartz had contended, then the case for market economies was measurably stronger.' Milton Friedman won the Nobel Prize in Economics in 2000 for work related to A Monetary History as well as to his other Princeton University Press book, A Theory of the Consumption Function (1957).

In their influential chapter 7, The Great Contraction-which Princeton published in 1965 as a separate paperback-they address the central economic event of the century, the Depression. monumental, above all, in the theoretical and statistical effort and ingenuity that have been brought to bear on the solution of complex and subtle economic issues.' Friedman and Schwartz marshaled massive historical data and sharp analytics to support the claim that monetary policy-steady control of the money supply-matters profoundly in the management of the nation's economy, especially in navigating serious economic fluctuations. Johnson begins with a sentence seemingly calibrated to the scale of the book he set himself to review: 'The long-awaited monetary history of the United States by Friedman and Schwartz is in every sense of the term a monumental scholarly achievement-monumental in its sheer bulk, monumental in the definitiveness of its treatment of innumerable issues, large and small. Writing in the June 1965 issue of theEconomic Journal, Harry G. Finally, let to money even the chance of being ‘free’ from’ the fiat and representative exclusive options.

But it is just partly controversial, due to that the American economy and politics might steel remain influential on the international scale in all directions and even the classic gold standard had its own center, versus periphery zones to consider in context.

Plus, relating such a study to presumably remaking representative money system then gold standard, when crisis enough feared all of us, would be partly controversial for here choosing the US case (a pretty ordinary country would better reflect such disposability).

There rather aren’t precedents in such an aiming of applied studying. We turn here, in this paper, to a more applied procedure, as much as essays always keep limited persuasion resources, but stay aware that this approach capability stays, in its turn, even less persuasive face to the mutually exclusive theories of fiat and representative money. This is continuing our previous approaches on money, as fiat, versus representative, but also looking either at a crisis that forces the future to be different than present and past, or at the former Fed’s governor’s (Alan Greenspan) reflections about the former gold standard that sounded at least strange at their time.

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