History Never Repeats

This Time is Different: Eight Centuries of Financial Folly
Carmen M. Reinhart & Kenneth S. Rogoff

Long ago I took a class in economic history. It was taught in the history department, by visiting faculty not terribly well versed in economics.

Let me qualify that last  bit. Not terribly well versed in the quantitative, equation-driven neo-classical post-Samuleson economics most often taught in the Econ

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