Bob Jones, a Middlebury College alumnus, endowed a chair at the college and named it the Alan Holmes Chair. Dewey Daane was the inaugural holder of the chair. As part of his inauguration, he arranged for a set of speakers to come to Middlebury and give students a picture of real-world monetary policy. The lectures were so stimulating and interesting that we decided to fit them into a book that would further honor Alan Holmes. This is the result, and we think it would make Alan Holmes proud.
Our thanks go first to Bob Jones; without him there would be no book. He has been a dedicated, energetic friend and benefactor of Middlebury College and its economics department. Second, we want to thank Jody Woos, who team-taught the inaugural course of which these lectures were a part. She shared with us a sense of the importance of real-world institutions; she made helpful suggestions on early drafts of the book, and would have been a coeditor but for other commitments. We are indebted to her for her contributions. Third, we want to thank our students, whose questions often sharpened the talks and focused the issues. Fourth, we would like to thank Tom Mayer and Raymond Lombra for their useful comments on initial drafts of portions of the book. Fifth, we want to thank Sheila Cassin, the economics department secretary at Middlebury. She handled most of the technical arrangements of the visits that made this book possible.
After the talks were presented came the task of making them fit together into a coherent whole. In this process, Helen Reiff played a significant role--transcribing, editing, restructuring, and offering advice about what works, and what does not.
At M.E. Sharpe, Dick Bartel guided the process, and Linda Frede- Tripicco was the production editor. Together with Helen Reiff, they turned the manuscript into a book.