What can we learn from history – global economy in review

Please cite the paper as:
Gordana Pešaković, (2018), What can we learn from history – global economy in review, World Economics Association (WEA) Conferences, No. 1 2018, Monetary Policy after the Global Crisis, 19th February to 2nd April, 2018


In this paper critical developments that shaped the global economy from 1987 until 2017 were analyzed. The globalization process was addressed from the perspectives of convergence or divergence paths and outcomes. The lessons learned were presented. The need for historical perspective is emphasized. Instead of “superior or inferior model” qualifications, the plurality of ideas is recognized. The arrogance of perceived, yet fragmented knowledge proved to be devastating in the number of economic episodes.

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1 comment

  • Stephen I. Ternyik says:

    Your 3 takeaways on prediction, history, and plurality are all equally important; studying and applying economic history, in the mentioned scientitfic research perspective, will help us to better understand the workings of the living body economic and question the dominant pathological post mortem techniques. So, you have guided us brilliantly through the last 30 years, giving many living examples of national economies and their contra-polar forces of world (dis) integration. I am rating your contribution us the theoretical umbrella of the whole conference agenda. Finally, I would like to note methodically that economic cycles do matter and are a natural part of human economic activity; even the G-d of money cannot undo the natural physicality of the human economy.

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