Abstract
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) |
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Pages (from-to) | 1021-1026 |
Number of pages | 6 |
Journal | European Review of History/Revue Europeenne d'Histoire |
Volume | 19 |
Issue number | 6 |
DOIs | |
State | Published - Dec 1 2012 |
All Science Journal Classification (ASJC) codes
- History
Keywords
- depression
- financial crisis
- market instability