Considering the current global state of affairs we may like to think, and even believe, that history has little to offer students of money and banking; a more productive and worthwhile endeavor, however, may be to consider history as an unfolding of the means in the process of becoming. The 'becoming' has a lot to do with where we are today.
History permits us to glean, sift, thrash about, stumble upon, (re)discover, and find the rabbit tracks that lead to the evolving present. It answers the question: "So, what does today have to do with yesterday?"
As important is the question, "Can a historical context provide the convincing evidence to build a consensus to implement solutions that may not be popular?"
And finally, "So what makes your approach any better than mine?" Everyone has an opinion, however, what can be supported with primary research, professional dialogue, historical and verifiable data, and the rigors of a public forum.
History teaches this singular lesson: We are free to choose, but not free to choose the consequences of our choice.
The current global financial crisis is not new or unique; it has been experienced before. Maybe not dressed in the same cloths, or expounded upon in the same way; but, nevertheless, if you peel away the media hyperventilation of information you come face-to-face with similar variables, personalities, regulations (or the lack thereof), and market conditions.
Assignment objective:
This three part assignment has to do with your ability to peel away layers of images, rhetoric, and analysis to discover the rabbit tracks that seem to connect oscillating economic dynamics into a coherent idea-object that can be used to explain a moment of uncertainty or panic in metaphors capable of mustering resources (human, technological, financial) to first neutralize polarizing events, and then to restore and resuscitate.
Compose an analysis that compares and contrasts the events, clash of ideas, and outcomes while weaving your commentary into a single coherent picture. Describe the dynamics of conflict, consensus, and resolution. What exactly is meant by consensus and resolution within the context of the chapters view?
Finally, connect your analysis to appropriate text material. Keep firmly in mind that this class is on money and banking, and therefore the impetus of your analysis is the implications of your analysis to your study of money and banking.