122 sats \ 2 replies \ @kr OP 24 Mar \ parent \ on: Debate: History is only useful to the extent that it can predict the future history
yeah i think you’re right about people enjoying history more for the entertainment than the decision making.
for now let’s assume your only goal is to make better decisions, and let’s also replace the word “history” with “historical data”.
is there a point in collecting more historical data if at a certain point it doesn’t help you better understand the future?
It depends on exactly what your caveats mean. Generally, we don't know which data will be useful for answering economic questions. So, the point would be that it might be valuable now or perhaps it will be useful in the future.