Economic Interest

One topic that has become increasingly interesting to me is the importance of economic factors in the course of history. In many cases over modern history money has been a cause or catalyst for the fall and formation of nations, not to mention the desires and actions of the individuals inhabiting those nations. It is helpful to use this aspect of humanity to explain the course of events.

One of the ways that the “monetary factor” plays out is in the lives of individuals. This most often works on the small scale, but what is important to consider is the degree to which individual decisions affect the whole of economic systems. That is why the capitalist system has worked over the short time in history it has been tried, because it encourages individuals to pursue their own economic interests. That is also a contributing factor for the fall of many of the communist nations in modern history.

Another way that economic factors have influenced the world is through the decisions of nations. It is important to see that the individual and governmental economic concerns are related, but they are also distinct. While the individual is concerned with their own interests and that happens to affect the economy as a whole, the governments of the world are generally more concerned first with acquiring wealth for the nation as a whole and later with the individual.

This aspect of the historical landscape is important to any teacher of history. It is vital because it explains some things that otherwise have little or no explanation. It is also a way to weave a thread of commonality through the whole of history. It seems that there is always an aspect of a historically important event that involves either individual or nationwide economic interest. It is also useful for students to use this as a source of examination in their own lives.