Milton Friedman corresponded with Carolyn Shaw Bell about the Committee on the Status of Women in the Economics Profession (CSWEP) in 1973. What follows is a distillation of those remarks.

The third of three episodes in a major natural experiment in monetary policy that started more than 80 years ago is just now coming to an end. The experiment consists in observing the effect on the economy and the stock market of the monetary policies followed during and after three very similar...