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Economic History and the Policymaker

In: An Economist’s Guide to Economic History

Author

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  • Tim Leunig

    (UK Government)

Abstract

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”.

Suggested Citation

  • Tim Leunig, 2018. "Economic History and the Policymaker," Palgrave Studies in Economic History, in: Matthias Blum & Christopher L. Colvin (ed.), An Economist’s Guide to Economic History, chapter 5, pages 41-45, Palgrave Macmillan.
    • Handle: RePEc:pal:palscp:978-3-319-96568-0_5
    DOI: 10.1007/978-3-319-96568-0_5
    as

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    More about this item

    JEL classification:

    • A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • N40 - Economic History - - Government, War, Law, International Relations, and Regulation - - - General, International, or Comparative
    • N70 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - General, International, or Comparative

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