ListenÂ UpÂ Economists, WhyÂ MightÂ HistoryÂ MatterÂ forÂ DevelopmentÂ Policy?
HistoryÂ matters,Â andÂ itÂ mattersÂ inÂ importantÂ andÂ interestingÂ waysÂ forÂ policyÂ today.Â ButÂ itÂ isÂ notÂ justÂ actualÂ eventsÂ inÂ theÂ past.Â ItÂ isÂ howÂ theyÂ areÂ recorded,Â interpreted,Â andÂ theÂ interpretationÂ transmitted,Â thatÂ matters.Â ThisÂ isÂ whatÂ determinesÂ theÂ mentalÂ makeup,Â theÂ preferencesÂ inÂ economistsâ€™Â terminology,Â ofÂ agentsÂ inÂ theÂ economy.Â ThatÂ isÂ theÂ causalÂ mechanism.Â ItÂ isÂ theÂ embeddingÂ ofÂ theÂ pastÂ inÂ theÂ presentâ€™sÂ perceptionÂ ofÂ policyÂ thatÂ isÂ theÂ transmissionÂ mechanismÂ linkingÂ historyÂ toÂ todayâ€™sÂ developmentÂ policy.
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