Looking Backward: The 20th Century

Into the 20th Century

At the beginning of the 20th century descendants of the early European settlers who first colonized the coasts of Virginia, the Carolinas, and Georgia were established throughout the region. Most all of the native people had been displaced. Cotton was king. The mature forests were being . the southern world, wavered and then toppled. Demand for the South’s cotton declined due to new competition...

Looking Forward to Looking Backward

Decisions are powerfully affected by anticipated regret, and people anticipate feeling more regret when they lose by a narrow margin than when they lose by a wide margin. But research suggests that people are remarkably good at avoiding self-blame, and hence they may be better at avoiding regret than they realize. Four studies measured people’s anticipations and experiences of regret and self-b...

Mathematics in the 20th Century

If you talk about the end of one century and the beginning of the next you have two choices, both of them difficult. One is to survey the mathematics over the past hundred years; the other is to predict the mathematics of the next hundred years. I have chosen the more difficult task. Everybody can predict and we will not be around to find out whether we were wrong. But giving an impression of t...

Deregulation: Looking Backward and Looking Forward

Forward-Looking Versus Backward-Looking Taylor Rules*

Working papers of the Federal Reserve Bank of Cleveland are preliminary materials circulated to stimulate discussion and critical comment on research in progress. They may not have been subject to the formal editorial review accorded official Federal Reserve Bank of Cleveland publications. The views stated herein are those of the authors and are not necessarily those of the Federal Reserve Bank...