--- title: "Meaning & Key Takeaway of: There can be few fields of human endeavor…" description: "\"There can be few fields of human endeavor in which history counts for so little as in the world of finance.Past experience, to the extent that it is pa..." image: "https://sms4smile.com/quotes/i/6fe/john-kenneth-galbraith-643_appreciate_there-can-be-few-fields-of-human-endeavo_1195858.png" --- # There can be few fields of human endeavor in which history… ![“There can be few fields of human endeavor in which history counts for so little as in the world of finance.Past experience, to the extent that it is part of memory at all, is dismissed as the primitive refuge of the those who do not have insight to appreciate the incredible wonders of the present.” quote by John Kenneth Galbraith](https://sms4smile.com/quotes/i/6fe/john-kenneth-galbraith-643_appreciate_there-can-be-few-fields-of-human-endeavo_1195858.png) [Download](https://sms4smile.com/quotes/i/6fe/john-kenneth-galbraith-643_appreciate_there-can-be-few-fields-of-human-endeavo_1195858.png) [Open image](https://sms4smile.com/quotes/i/6fe/john-kenneth-galbraith-643_appreciate_there-can-be-few-fields-of-human-endeavo_1195858.png) > “There can be few fields of human endeavor in which history counts for so little as in the world of finance.Past experience, to the extent that it is part of memory at all, is dismissed as the primitive refuge of the those who do not have insight to appreciate the incredible wonders of the present.” [John Kenneth Galbraith](https://sms4smile.com/quotes/author/john-kenneth-galbraith/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Finance values the present over historical lessons, treating past experience as irrelevant. **In simple terms:** Finance ignores history. Key Takeaway Balance past insights with current decisions. Themes finance history decision‑making Mood analytical critical Type economic educational When to use this quote - investment strategy - policy making - education - risk assessment Key Concepts economics behavioral finance Questions to Reflect On - How can history improve financial choices? - When should you trust tradition over novelty? A Different Perspective Past data can still be valuable if interpreted correctly. ★ ★ ★ ★ ★ No ratings yet [Appreciate](https://sms4smile.com/quotes/about/appreciate/) [Endeavor](https://sms4smile.com/quotes/about/endeavor/) [Fields](https://sms4smile.com/quotes/about/fields/) [Finance](https://sms4smile.com/quotes/about/finance/) [Finance Past](https://sms4smile.com/quotes/about/finance-past-3567040/) [History](https://sms4smile.com/quotes/about/history/) [History Counts](https://sms4smile.com/quotes/about/history-counts-3567041/) [Humans](https://sms4smile.com/quotes/about/humans/) [Incredibles](https://sms4smile.com/quotes/about/incredibles/) [Insight](https://sms4smile.com/quotes/about/insight/) [Investing](https://sms4smile.com/quotes/about/investing/) [Littles](https://sms4smile.com/quotes/about/littles/) [Memories](https://sms4smile.com/quotes/about/memories/) [Memory](https://sms4smile.com/quotes/about/memory/) [Memory Dismissed](https://sms4smile.com/quotes/about/memory-dismissed-3567042/) [Money](https://sms4smile.com/quotes/about/money/) [Past](https://sms4smile.com/quotes/about/past/) [Past Experience](https://sms4smile.com/quotes/about/past-experience/) [Past experiences](https://sms4smile.com/quotes/about/past-experiences/) [Primitive](https://sms4smile.com/quotes/about/primitive/) [Refuge](https://sms4smile.com/quotes/about/refuge/) [Wonder](https://sms4smile.com/quotes/about/wonder/) [World](https://sms4smile.com/quotes/about/world/) ## Related quotes > [The real history, the one that counts and is not to be found in books, is precisely this one, the one made by simple…](https://sms4smile.com/quotes/eugenio-montale/the-real-history-the-one-that-counts-and-is-not-to-be-found-in-books/) [Eugenio Montale](https://sms4smile.com/quotes/author/eugenio-montale/) > [By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.](https://sms4smile.com/quotes/alan-greenspan/by-far-the-most-significant-event-in-finance-during-the-past-decade/) [Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/) > [When we perceive any object of a familiar kind, much of what appears subjectively to be immediately given is really derived from past experience.](https://sms4smile.com/quotes/bertrand-russell/when-we-perceive-any-object-of-a-familiar-kind-much-of-what-appears/) [Bertrand Russell](https://sms4smile.com/quotes/author/bertrand-russell/) > [We never ask candidates to demonstrate their skill. We ask lots of questions about past experience, but simply looking at the results of their…](https://sms4smile.com/quotes/justin-menkes/we-never-ask-candidates-to-demonstrate-their-skill-we-ask-lots-of/) [Justin Menkes](https://sms4smile.com/quotes/author/justin-menkes/) > [The notion that any one person can describe 'what really happened' is an absurdity. If ten - or a hundred - people witness an…](https://sms4smile.com/quotes/david-eddings/the-notion-that-any-one-person-can-describe-what-really-happened-is/) [David Eddings](https://sms4smile.com/quotes/author/david-eddings/) > [We live in reference to past experience and not to future events, however inevitable.](https://sms4smile.com/quotes/h-g-wells/we-live-in-reference-to-past-experience-and-not-to-future-events/) [H. G. Wells](https://sms4smile.com/quotes/author/h-g-wells/) > [It is more rational to suspect knavery and folly than to discount, at a stroke, everything that past experience has taught me about the…](https://sms4smile.com/quotes/david-hume/it-is-more-rational-to-suspect-knavery-and-folly-than-to-discount-at/) [David Hume](https://sms4smile.com/quotes/author/david-hume/) > [Based on past experience, I hope not.](https://sms4smile.com/quotes/becca-fitzpatrick/based-on-past-experience-i-hope-not/) [Becca Fitzpatrick](https://sms4smile.com/quotes/author/becca-fitzpatrick/) > [Never limit your view of life by any past experience.](https://sms4smile.com/quotes/ernest-holmes/never-limit-your-view-of-life-by-any-past-experience/) [Ernest Holmes](https://sms4smile.com/quotes/author/ernest-holmes/) > [A man really living alone (alone mentally as well as physically) would have little or no occasion to reflect upon his past experience to…](https://sms4smile.com/quotes/john-dewey/a-man-really-living-alone-alone-mentally-as-well-as-physically-would/) [John Dewey](https://sms4smile.com/quotes/author/john-dewey/) > [Open-mindedness is considered to be a virtue. But, strictly speaking, it cannot occur. A new experience must be redacted into old categories. We cannot…](https://sms4smile.com/quotes/anonymous/open-mindedness-is-considered-to-be-a-virtue-but-strictly-speaking-it/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [A repetition is the re-enactment of past experience toward the end of isolating the time segment which has lapsed in order that it, the…](https://sms4smile.com/quotes/walker-percy/a-repetition-is-the-re-enactment-of-past-experience-toward-the-end-of/) [Walker Percy](https://sms4smile.com/quotes/author/walker-percy/) > [How are we going to know what sounds are important before we've even heard those sounds? It's an absurd question. The only thing we…](https://sms4smile.com/quotes/gordon-hempton/how-are-we-going-to-know-what-sounds-are-important-before-we-ve-even/) [Gordon Hempton](https://sms4smile.com/quotes/author/gordon-hempton/) > [Have you not noticed in your past experience that your kind interpretations were almost always truer than your harsh ones?](https://sms4smile.com/quotes/lawrence-g-lovasik/have-you-not-noticed-in-your-past-experience-that-your-kind/) [Lawrence G. Lovasik](https://sms4smile.com/quotes/author/lawrence-g-lovasik/) > [It is foolish to try to live on past experience. It is very dangerous, if not a fatal habit, to judge ourselves to be…](https://sms4smile.com/quotes/charles-spurgeon/it-is-foolish-to-try-to-live-on-past-experience-it-is-very-dangerous/) [Charles Spurgeon](https://sms4smile.com/quotes/author/charles-spurgeon/) ## More by John Kenneth Galbraith > [Getting on the cover of TIME guarantees the existence of opposition in the future.](https://sms4smile.com/quotes/john-kenneth-galbraith/getting-on-the-cover-of-time-guarantees-the-existence-of-opposition/) [John Kenneth Galbraith](https://sms4smile.com/quotes/author/john-kenneth-galbraith/) > [Technology means the systematic application of scientific or other organized knowledge to practical tasks.](https://sms4smile.com/quotes/john-kenneth-galbraith/technology-means-the-systematic-application-of-scientific-or-other/) [John Kenneth Galbraith](https://sms4smile.com/quotes/author/john-kenneth-galbraith/) > [“Men can labor to make sense out of single steps toward the goal without ever pausing to reflect that the goal itself is ludicrous.”](https://sms4smile.com/quotes/john-kenneth-galbraith/men-can-labor-to-make-sense-out-of-single-steps-toward-the-goal/) [John Kenneth Galbraith](https://sms4smile.com/quotes/author/john-kenneth-galbraith/) > [Consumer wants can have bizarre, frivolous, or even immoral origins, and an admirable case can still be made for a society that seeks to…](https://sms4smile.com/quotes/john-kenneth-galbraith/consumer-wants-can-have-bizarre-frivolous-or-even-immoral-origins-and/) [John Kenneth Galbraith](https://sms4smile.com/quotes/author/john-kenneth-galbraith/) > [That one never need to look beyond the love of money for explanation of human behavior is one of the most jealously guarded simplification…](https://sms4smile.com/quotes/john-kenneth-galbraith/that-one-never-need-to-look-beyond-the-love-of-money-for-explanation/) [John Kenneth Galbraith](https://sms4smile.com/quotes/author/john-kenneth-galbraith/) > [Agriculture is one economic activity that does not obey the laws of demand and supply.](https://sms4smile.com/quotes/john-kenneth-galbraith/agriculture-is-one-economic-activity-that-does-not-obey-the-laws-of/) [John Kenneth Galbraith](https://sms4smile.com/quotes/author/john-kenneth-galbraith/) > [If we were not in Vietnam, all that part of the world would be enjoying the obscurity it so richly deserves.](https://sms4smile.com/quotes/john-kenneth-galbraith/if-we-were-not-in-vietnam-all-that-part-of-the-world-would-be/) [John Kenneth Galbraith](https://sms4smile.com/quotes/author/john-kenneth-galbraith/) > [Washington is a place where men praise courage and act on elaborate personal cost-benefit calculations.](https://sms4smile.com/quotes/john-kenneth-galbraith/washington-is-a-place-where-men-praise-courage-and-act-on-elaborate/) [John Kenneth Galbraith](https://sms4smile.com/quotes/author/john-kenneth-galbraith/) > [World War II revealed two of the enduring features of the Keynesian Revolution. One was the moral difference between spending for welfare and spending…](https://sms4smile.com/quotes/john-kenneth-galbraith/world-war-ii-revealed-two-of-the-enduring-features-of-the-keynesian/) [John Kenneth Galbraith](https://sms4smile.com/quotes/author/john-kenneth-galbraith/) > [Money is what fueled the industrial society. But in the informational society, the fuel, the power, is knowledge. One has now come to see…](https://sms4smile.com/quotes/john-kenneth-galbraith/money-is-what-fueled-the-industrial-society-but-in-the-informational/) [John Kenneth Galbraith](https://sms4smile.com/quotes/author/john-kenneth-galbraith/) > [While it will be desirable to achieve planned results, it will be even more important to avoid unplanned disasters.](https://sms4smile.com/quotes/john-kenneth-galbraith/while-it-will-be-desirable-to-achieve-planned-results-it-will-be-even/) [John Kenneth Galbraith](https://sms4smile.com/quotes/author/john-kenneth-galbraith/) > [A bad book is the worse that it cannot repent. It has not been the devil's policy to keep the masses of mankind in…](https://sms4smile.com/quotes/john-kenneth-galbraith/a-bad-book-is-the-worse-that-it-cannot-repent-it-has-not-been-the/) [John Kenneth Galbraith](https://sms4smile.com/quotes/author/john-kenneth-galbraith/) > [Genius is a rising stock market.](https://sms4smile.com/quotes/john-kenneth-galbraith/genius-is-a-rising-stock-market/) [John Kenneth Galbraith](https://sms4smile.com/quotes/author/john-kenneth-galbraith/) > [Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy—what an older and less elegant…](https://sms4smile.com/quotes/john-kenneth-galbraith/mr-david-stockman-has-said-that-supply-side-economics-was-merely-a/) [John Kenneth Galbraith](https://sms4smile.com/quotes/author/john-kenneth-galbraith/) > [Inventions that are not made, like babies that are not born, are rarely missed. 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