A new sensitivity to the significance of historical experience has developed since the 2007 financial crisis. There are three possible ways of drawing on the past: as a source of advice on policies, of patterns of past evolution, of multiple possibilities. The best way of thinking about history is as a way of testing conventional hypotheses-particularly when those hypotheses are being used to create market opportunities (by making for false confidence; but also by engendering exaggerated despair).
|Original language||English (US)|
|Number of pages||6|
|Journal||European Review of History/Revue Europeenne d'Histoire|
|State||Published - Dec 1 2012|
All Science Journal Classification (ASJC) codes
- financial crisis
- market instability