Economist Quote by Edward Gibbon
“History should be to the political economist a wellspring of experience and wisdom.”
About This Quote
Source Book: The Decline and Fall of the Roman Empire, 1776
Political economists should learn from history’s experiences and wisdom.
In simple terms: History teaches economists.
Key Takeaway
Use historical lessons in economic analysis.
Themes
history
economics
wisdom
Mood
analytical
inquisitive
Type
scholarly
educational
When to use this quote
- policy design
- financial forecasting
- educational curricula
- public discourse
Key Concepts
political economy
historical analysis
Questions to Reflect On
- What historical lesson applies today?
- How to avoid misusing history?
A Different Perspective
Historical analogies can be misleading.
![“That country [Carthage] was rapidly sinking into the state of barbarism from whence it had been raised by the Phoenician colonies and Roman laws; and every step of intestine discord was marked by some deplorable victory of savage man over civilized society.” quote by Edward Gibbon](https://sms4smile.com/quotes/img-quotes/70c/edward-gibbon-710_barbarism_that-country-carthage-was-rapidly-sinkin_393.jpg)
![“[In] the national and religious conflict of the [Byzantine and Saracen] empires, peace was without confidence, and war without mercy.” quote by Edward Gibbon](https://sms4smile.com/quotes/img-quotes/338/edward-gibbon-710_byzantine_in-the-national-and-religious-conflict-o_29382.jpg)
![“[Every] hour of delay abates the fame and force of the invader, and multiplies the resources of defensive war.” quote by Edward Gibbon](https://sms4smile.com/quotes/img-quotes/4de/edward-gibbon-710_delay_every-hour-of-delay-abates-the-fame-and_94668.jpg)
![“I have learned more [from Balzac] than from all the professional historians, economists, and statisticians put together.” quote by Friedrich Engels](https://sms4smile.com/quotes/img-quotes/22f/friedrich-engels-8301_balzac_i-have-learned-more-from-balzac-than-fro_62197.jpg)
