Looking Back Even Further

One reason why so many analysts failed to anticipate the worst financial crisis this century stems from their lack of historical perspective. Many believed that since the world had "progressed," there was little point in taking account of what had occurred in less sophisticated times. That meant they generally ignored developments that took place more than a decade or two ago, or in the best case, prior to World War II. Of course, if they had not limited themselves in that way, they might have