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In Foresight, the Economic Future Sometimes Conjugated in the Past Tense. Some Lessons from Experience

Author

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  • Redslob Alain

    (Panthéon-Assas University, France.)

Abstract
Claiming that the future is merely an extension of the past can be considered a simplistic, if not fundamentally flawed, perspective. It is essential to recognize that while past events provide invaluable insights, we must exercise caution to ensure that our understanding of the future does not disregard the wealth of knowledge embedded in historical contexts. This understanding is critical for analyzing economic history, and it serves as one of the primary lessons articulated in this article. Moreover, when engaging in discussions of foresight, we mustn’t detach our predictions from the realities that shape our world. This reality is characterized by diverse and multifaceted facts that often require an interdisciplinary approach for proper interpretation and understanding. Therefore, synthesizing knowledge from various fields can enhance our comprehension of the complexities we face. In summary, the dual pillars underpinning effective decision-making tools are derived from the lessons learned through past experiences and the reliability of well-founded conjectures. We can develop a more robust framework for navigating future uncertainties by integrating these elements.

Suggested Citation

  • Redslob Alain, 2024. "In Foresight, the Economic Future Sometimes Conjugated in the Past Tense. Some Lessons from Experience," Valahian Journal of Economic Studies, Sciendo, vol. 15(2), pages 103-108.
    • Handle: RePEc:vrs:vaecst:v:15:y:2024:i:2:p:103-108:n:1009
    DOI: 10.2478/vjes-2024-0019
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    More about this item

    Keywords

    Gold; International trade; growth; equilibrium; public finances;
    All these keywords.

    JEL classification:

    • B1 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925
    • B2 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925
    • E0 - Macroeconomics and Monetary Economics - - General
    • F1 - International Economics - - Trade
    • N0 - Economic History - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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