In both 1929 and 2008, economic experts everywhere claimed to know exactly what they were doing, yet not a single person could fix the series of mistakes that crashed the world’s economy.

After these financial crises, many were rightfully furious--at the fraudulent bankers, who systematically destroyed the world economy for their own gain; at the Wall Street brokers who received bailouts and little to no jail time, while millions lost everything.

To avoid future financial catastrophes, a library in Edinburgh, Scotland has compiled a collection of sensible economic literature that aims to educate the next generation of economists. The Library of Mistakes contains over 2,000 books, all relating to economics and finance. Book titles sizzle with the message of it all; Crash of the Titans, The Crunch, Debt Shock, Too Big to Fail, and The Manipulators.

The Library of Mistakes was inspired by the 2008 Great Recession, which served as a perfect example of how, according to the library’s curators, “smart people keep doing stupid things.” The library’s curators argue that the only way to build a strong economy is to learn from our mistakes.

Ultimately, the Library of Mistakes encourages self-reflection and the serious study of history. In the wise words of George Santayana, “… for those who cannot remember the past are condemned to repeat it.” And given the turbulent state of the world today, such advice could not be more timely.

Possible Preaching Angle:

God has written the historical sections of the Bible for this very reason--so that we would learn not to repeat the mistakes of others. The clear message is “don’t let this happen to you.” “Now these things happened to them as an example, but they were written down for our instruction, on whom the end of the ages has come” 1 Cor. 10:11).