This Lecture is a place holder for essentials about the history of money - over the century, history of money has become the history of central banking. Here is sequence of five lectures on the History of Central Banking:
The Hundred Years of Peace: 1814-1914
Recent Developments which arose in the Reagan-Thatcher era of financial de-regulation have not been covered adequately. That material needs to added (some references are given below). Also, some simplification and summarization of materials above is needed.
Some supplemental material is given below:
There is a lot more supplementary material on central banks - all of which is very important, but too extensive to be surveyed and summarized:
How Central Banks Think - Very useful PRAGMATIC understanding of policy making tensions at Central Banks
NOTE: I was planning to make this the last lecture, as I was going to leave for Hajj after this. As a result, I gave a lecture in which I tried to cram all this information into one lecture. This video lecture is linked below. Slides for the video Lecture are: L9 Origins of Money See also slides in PDF Format. My recommendation is to skip this lecture, because it is too condensed to be comprehensible. After getting back from Hajj, I gave another lecture on money which takes this material very slowly, and attempts to introduce the first few steps along the path to understanding money. That is a much better lecture, and a much better place to start:
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Some References for Later Use:
"The Subprime Solution: How Today's Global Financial Crisis Happened, and What to Do about It" by Robert J. Shiller: Shiller, an economist and Nobel laureate, provides an in-depth examination of the subprime mortgage crisis and its underlying causes. He discusses the role of financial innovation, excessive risk-taking, and regulatory failures.
"All the Devils Are Here: The Hidden History of the Financial Crisis" by Bethany McLean and Joe Nocera: This book explores the factors that led to the global financial crisis, including the expansion of the mortgage market, the rise of complex financial instruments, and the failure of regulatory oversight. It offers a detailed account of the key players and institutions involved.
"Fault Lines: How Hidden Fractures Still Threaten the World Economy" by Raghuram G. Rajan: Rajan, an economist and former chief economist at the International Monetary Fund (IMF), examines the underlying structural issues that contributed to the financial crisis. He argues that growing income inequality and policy failures played a significant role in the crisis.
"The Great Deformation: The Corruption of Capitalism in America" by David Stockman: This book provides a critical analysis of the monetary system and its role in the financial crisis. Stockman, a former Reagan administration official, argues that the combination of monetary excesses, financial deregulation, and government intervention led to distortions in the economy.