Economic history is rarely taught in universities these days. This is a pity, since it is a better guide to policymaking than Nobel Prize winning theses in economic theory. As a result, every two generations or so we are destined to repeat serious policy mistakes. In Britain the Truss government failed to study the Barber Boom of 1972-73 and arguably the world’s central banks too have failed to learn from the oil price shocks of 1973 and 1980.
大學現在已經很少教經濟史了。這實在有些遺憾，因為它比那些獲得諾貝爾獎的經濟學理論論文能更好地指導政策制定。于是這導致我們每兩代人左右就必定會重復嚴重的政策錯誤。在英國，特拉斯(Truss)政府未能研究1972-73年的“巴伯榮景”(Barber Boom)，而世界各國央行可以說也未能從1973年和1980年的油價沖擊中吸取教訓。
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