History Matters

Economics is usually discussed in a vacuum devoid of any reference to history or culture. The economy is viewed as a place without a past and little distinction is made between policies implemented in Japan, Scandinavia or America. However, in reality the past shapes the future far more than we realise. The state we’re in depends hugely on the actions and events of decades or even generations earlier. Economies were not born yesterday; they are hugely shaped by what came before. In other words, history matters. Continue reading “History Matters”