Understanding Historic Economic Theory

History cannot be properly understood without an adequate comprehension of basic economics.

Human knowledge is holistic, a big piece of integrated, well-structured experiences. Specialization in learning is a good thing, but it should not be carried away too far, since doing so creates all kinds of misunderstandings due to partial comprehension of how things work. The study of and daily practice in specialized fields of human knowledge is indeed a very useful approach to learning and solving situations, provided that the overall context is not lost within that specialization process.

One of the areas of human knowledge where the lack of a particular know-how proves very costly is in the economics/history binomial.  Economic principles and practices, among many other elements from different disciplines, are truly indispensable to gain the proper perspective in human history. Otherwise, the knowledge of history is mutilated at best and highly distorted at worst.

Metrics are an indispensable tool to measure and understand many key historic phenomena. Economics provide those metrics. Without adequate metrics, the understanding of many historic events can be seriously distorted.

The same logic can be applied to a proper understanding of globalization. That is why in my book, Globalization, economics plays a large role as an indispensable ingredient to an adequate understanding of such a complex phenomena. Economics, however, should only be visualized as a means toward greater accomplishments, not as an end in itself.

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