It's come to my attention that there are whispers of stock market collapse as the US finally admits to its troubling economics that some might say began in the 70s, let alone 2001. At any rate, it's been my experience that not only does history repeat itself but that merely knowing history doesn't really prevent anything.
The more practical purpose to learning history is not simply to know it but to understand it. That is, to understand why things happened the way they did and to reapply that knowledge to the present world, the world we live today. History is a source of information that we so often fail to take advantage of. This then is sadly why it's very easy to trick many fools into thinking that any system can last forever without change.
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