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.