how history and economics related?
please help me i need it now. any theories, facts, sites, conclusions about the relation between history and economics.
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History is the systematic narrative and research of past events as relating to the human race; as well as the study of all events in time, in relation to humanity.History can be seen as the sum total of many things taken together and the spectrum of events occurring in action following in order leading from the past to the present and into the future.
Economics is the social science that studies the production, distribution, and consumption of goods and services.
it simply means that history is one of the factors that could help us in understanding present events in economics. the way people lived before, their livelihood, how they changed and developed economically.
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History also helps us decide whether or not to take an economic action that yields a certain result.
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Look how the Stock market crash in 1929 changed the lives of people in the US
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