Is History Important?

If we’re headed for a recession, blame the economists who flunked history class.

History has long been downplayed by economists, even though it holds the keys to answering some of the most important questions today. Why did the stock market crash in 1929? Should the 2008 bank bailout been handled differently? Is there any way to stop this endless cycle of booms and busts?

Economic historian Robert Skidelsky explains why the past is vital to making sense of the present.

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Special Thanks

INET sincerely thanks the Julis-Rabinowitz Family for their generous support, who named this series to honor the spirit of a great educator and economic thinker, Uwe Reinhardt.

For nearly 50 years, the late Uwe Reinhardt was a beloved economist and professor at Princeton University. Known best for helping to shape critical discourse around healthcare markets, his biting wit and intellect challenged students, colleagues, and policymakers alike to follow the data and to check all assumptions at the door.