econ rules

It is an age-old saying: “Those who forget history are doomed to repeat it.” But this assumption is under fire in a new study by economists, released today. Eric L. Talley, a UC Berkeley economist and Principal Investigator for the study, described it this way: “using sophisticated methodological techniques, we have found that those who remember history are as likely to repeat it as those who do not. Although the results are surprising, they are resoundingly clear: history is inefficient.” The authors recommend that resources currently devoted to the study of history be redirected.

Legal historian Mary Dudziak reports on an important new study. The study's results seem incontrovertible to me--they even used lobotomies!

via cliopatria