Economic History and the Policymaker
- 1.1k Downloads
Politicians, and the officials who serve them, live in the present. But making good policy requires an understanding of the past. History is important when making economic policy, because economics has many regularities that can be understood, and which yield useful predictions. This chapter, written by a senior policy advisor to the UK government, argues that historical knowledge is of particular importance to prepare for large and uncommon events, and to assess whether or not “this time is different”.
JEL ClassificationA22 F13 N40 N70
- Crafts, Nicholas. 2011. Delivering Growth While Reducing Deficits: Lessons from the 1930s. London: Centre Forum http://www.centreforum.org/assets/pubs/delivering-growth-while-reducing-deficits.pdf.Google Scholar
- Crafts, Nicholas, and Peter Fearon, eds. 2013. The Great Depression of the 1930s: Lessons for Today. Oxford University Press.Google Scholar
- David, Paul A. 1985. Clio and the Economics of QWERTY. The American Economic Review 75 (2) (Papers & Proceedings): 332–337.Google Scholar
- Gerschenkron, Alexander. 1962. Economic Backwardness in Historical Perspective. Belknap Press.Google Scholar
- ———, eds. 2018. Women Working Longer. University of Chicago Press.Google Scholar
- Hobsbawm, Eric. (1969) 1999. Industry and Empire: The Birth of the Industrial Revolution. The New Press.Google Scholar
- Huang, X., ed. 2013. Modern Economic Development in Japan and China: Developmentalism, Capitalism, and the World Economic System. Palgrave Macmillan.Google Scholar
- The Economist. 2008. The Battle of Smoot-Hawley. December 18. http://www.economist.com/node/12798595.