History
History (from Greek ἱστορία, historia, meaning "inquiry, knowledge acquired by investigation") is the study of the past as it is described in written documents. Events occurring before written record are considered prehistory. It is an umbrella term that relates to past events as well as the memory, discovery, collection, organization, presentation, and interpretation of information about these events. Scholars who write about history are called historians.
Economics
The field of economics is not exempt from the consequences of chaos and complexity. Marketplaces are indeterminate; value is subjective; and outcomes are subject to interpretation. Economic forecasting is just as nebulous, being based on the probability of statistical information that may or may not be accurate.
L.K. Samuels, In Defense of Chaos: The Chaology of Politics, Economics and Human Action, Cobden Press (2013) p. 16.
Economics
Too often in recent history liberal governments have been wrecked on rocks of loose fiscal policy.
Franklin Delano Roosevelt, request to Congress to effect drastic economies in the government (March 10, 1933); in The Public Papers and Addresses of Franklin D. Roosevelt, 1933 (1938), p. 50.
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