Why economics needs economic history

Why economics needs economic history
by Kevin Hjortshoj O'Rourke on VOX: Research-based policy analysis and commentary from leading economists
http://www.voxeu.org/article/why-economics-needs-economic-history


politics |ˈpäləˌtiks|pl.noun [ usu. treated as sing. ]the activities associated with the governance of a country or other area, esp. the debate or conflict among individuals or parties having or hoping to achieve power: the president's relationship with Congress is vital to American politics |thereafter he dropped out of active politics.• the activities of governments concerning the political relations between countries: in the conduct of global politics, economic status must be backed by military capacity.• the academic study of government and the state: [ as modifier ] : a politics lecturer.• activities within an organization that are aimed at improving someone's status or position and are typically considered to be devious or divisive: yet another discussion of office politics and personalities.• a particular set of political beliefs or principles: people do not buy this newspaper purely for its politics.• (often the politics of) the assumptions or principles relating to or inherent in a sphere, theory, or thing, esp. when concerned with power and status in a society: the politics of gender.PHRASESplay politicsact for political or personal gain rather than from principle.politic |ˈpäləˌtik|adjective(of an action) seeming sensible and judicious under the circumstances: [ withinfinitive ] : I did not think it politic to express my reservations.• (also politick ) archaic (of a person) prudent and sagacious.verb ( politics, politicking , politicked ) [ no obj. ] (often as nounpoliticking) often derogatoryengage in political activity: news of this unseemly politicking invariably leaks into the press.DERIVATIVESpoliticlyadverb( rare)ORIGIN late Middle English: from Old French politique ‘political,’ via Latinfrom Greek politikos, from politēs ‘citizen,’ from polis ‘city.’
policy 1 |ˈpäləsē|noun ( pl.policies )a course or principle of action adopted or proposed by a government, party, business, or individual: the administration's controversial economic policies | it is not company policy to dispense with our older workers.• archaic prudent or expedient conduct or action: a course of policy and wisdom.ORIGIN late Middle English: from Old French policie ‘civil administration,’ via Latin from Greek politeia ‘citizenship,’ from politēs‘citizen,’ from polis ‘city.’policy 2 |ˈpäləsē|noun ( pl.policies )1 a contract of insurance: they took out a joint policy.2 an illegal lottery or numbers game.ORIGIN mid 16th cent.: from French police ‘bill of lading, contract of insurance,’ from Provençal poliss(i)a, probably from medieval Latinapodissa, apodixa, based on Greek apodeixis ‘evidence, proof,’ fromapodeiknunai ‘demonstrate, show.’
empirical |emˈpirikəl|adjectivebased on, concerned with, or verifiable by observation or experience rather than theory or pure logic: they provided considerable empirical evidence to support their argument.DERIVATIVESempirically adverb

unapologetic |ˌənəˌpäləˈjetik|adjectivenot acknowledging or expressing regret: he remained unapologetic about his decision.DERIVATIVESunapologetically|-ik(ə)lē|adverb

challenge |ˈCHalənj|noun1 a call to take part in a contest or competition, esp. a duel: he accepted the challenge.• a task or situation that tests someone's abilities: the ridge is a challenge for experienced climbers.• an attempt to win a contest or championship in a sport: a world title challenge.2 an objection or query as to the truth of something, often with an implicitdemand for proof: a challenge tothe legality of the order.• a sentry's call for a password or other proof of identity.• Lawan objection regarding the eligibility or suitability of a jury member.3 Medicineexposure of the immune system to pathogenic organisms orantigens: recently vaccinated calves should be protected from challenge.verb [ with obj. ]1 invite (someone) to engage in a contest: he challenged one of my men to a duel.• enter into competition with or opposition against: incumbent Democrats are being challenged in the 29th district.• make a rival claim to or threaten someone's hold on (a position): they were challenging his leadership.• [ with obj. and infinitive ] invite (someone) to do something that one thinks will be difficult or impossible; dare: I challenged them to make up their own minds.• test the abilities of: he needed something both to challenge his skills and to regain his crown as the king of the thriller.2 dispute the truth or validity of: employees challenged the company's requirement.• Lawobject to (a jury member).• (of a sentry) call on (someone) for proof of identity.3 Medicineexpose (the immune system) to pathogenic organisms or antigens.DERIVATIVESchallengeableadjective.challengernounORIGIN Middle English (in the senses ‘accusation’ and ‘accuse’): from Old French chalenge (noun), chalenger (verb), from Latin calumnia ‘calumny,’calumniari ‘calumniate.’cleavage |ˈklēvij|nouna sharp division; a split: a system dominated by the class cleavage.• the hollow between a woman's breasts when supported, esp. as exposed by a low-cut garment.• Biologycell division, esp. of a fertilized egg cell.• the splitting of rocks or crystals in a preferred plane or direction.