History
The classification of some macroeconomic variables as instruments and some others as targets or objectives is originally due to Jan Tinbergen, who used these concepts in his books On the Theory of Economic Policy (1952) and Economic Policy: Principles and Design (1955).
Read more about this topic: Macroeconomic Policy Instruments
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“We have need of history in its entirety, not to fall back into it, but to see if we can escape from it.”
—José Ortega Y Gasset (1883–1955)
“We said that the history of mankind depicts man; in the same way one can maintain that the history of science is science itself.”
—Johann Wolfgang Von Goethe (1749–1832)
“History is more or less bunk. It’s tradition. We don’t want tradition. We want to live in the present and the only history that is worth a tinker’s damn is the history we make today.”
—Henry Ford (1863–1947)