"Economic history has contributed significantly to the formulation of economic theory. Among the economists who have found history an important source for their ideas are Smith, Malthus, Marx, Marshall, Keynes, Hicks, Arrow, Friedman, Solow, and Becker. Failure to take account of history, as Simon Kuznets (1941) stressed, has often led to a misunderstanding of current economic problems by investigators who have not realized that their generalizations rested upon transient circumstances. Nowhere is the need to recognize the role of long-run dynamics more relevant than in such pressing current issues as medical care, pension policies, and development policies."
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Historians from the United StatesJews from the United StatesPeople from New York CityEconomists from the United StatesNobel laureates in Economics
Original Language: English
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Robert Fogel (1993) "Economic Growth, Population Theory, And Physiology: The Bearing Of Long-Term Processes On The Making Of Economic Policy." Nobel lecture.
https://en.wikiquote.org/wiki/Robert_Fogel
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Robert Fogel
Robert William Fogel (July 1, 1926 – June 11, 2013) was an American economic historian and scientist, and winner (with Douglass North) of the 1993 Nobel Memorial Prize in Economic Sciences.
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