This is a great blog post about lessons from History - I recommend reading it.
The five key lessons, as Morgan Housel highlights them are:
- "People suffering from sudden, unexpected hardship are likely to adopt views they previously thought unthinkable";
- "Reversion to the mean occurs because people persuasive enough to make something grow don't have the kind of personalities that allow them to stop before pushing too far"
- "Unsustainable things can last longer than you anticipate"
- "Progress happens too slowly for people to notice; setbacks happen too fast for people to ignore"
- "Wounds heal, scars last"
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