Readings

Pending Tasks:

• Reddell Long Summary Prepared and made available (there is lots of juice in there - extract point by point for a supplement to the planned textbook. Planning to write a SHORT summary. For this purpose, some background is needed. Article itself is Monetarist, so we need to set background of theoretical shift to monetarism. This was done, for precisely this purpose, in The Great Transformation in Economic Theory. Now, we are in shape to provide Reddell summary from a Keynesian perspective.

Michael Reddell, Origins and early development of the inflation target == Over the course of the 1990s inflation targeting has become a well-established feature of the literature and practice of monetary policy in many countries. Explicit inflation targeting was pioneered in New Zealand in the late 1980s.1 This article explains how the system gradually came about. It traces some of the early influences and thinking that had, by the end of 1990, given us pretty much the structures still in use today

History of Central Banks: Battle of Three Centuries: Original Article in The Economists - provide summary here. This is an interesting article and worth studying deeply. I have asked Ali Kemal to provide a better pdf, the one I have gotten has some omissions.

Srnicek article on The Eyes of the State about the complexity of decision making at Central Banks -- this is a very valuable article, available from BOX below, and needs to be summarized.

Also need to add basic IS-LM model with causal chains in a CLOSED economy as a first step to understand the Macro-Economy. This needs to be developed via Google Forms?? At least it can be done this way. Use decision with forks and computed inputs in associated EXCEL sheets. I think a tie up of Form with EXCEL could be the perfect solution to my problem about creating games which students could play to learn about the economy.

Also at some point, we need to read and summarize the Lords of Finance. Much more literature has been reviewed recently by me, and I need to put at least some of it in here or I will forget what I have read.