"We should learn to think historically about our condition. History is not only about the past. It is also about change and continuity. Most of all it is about the long run. The two leading errors of economic planning are to impose short-term thinking on long-term problems and, and to adopt atemporal and anachronistic policies which do not recognise that the world has changed. It is an axiom of military history that generals are trained to fight the last war. In economic history, planners and managers are taught to prevent the last crisis from happening again. The next one is always different."
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