This user does not explain and elaborate and jumps straight to examples. The economy is still in a bad state with Greece in tatters.

Studying of history allows us to learn from the mistakes that the people in the past made and so we will not repeat these mistakes in the future. People then further fine tune these mistakes so that people will benefit from it. One example is the creation of the wheel. In the past, people used square shaped wheel on their carts for transportation of goods. However, it was difficult to move the cart as square wheels are not able to move smoothly on the ground. It was because of the studying of history made people in the future realized that they have to improvised the method of using square wheels for transportation as it was proved to be unsuccessful in the past. Later, round wheels were invented and benefited the whole of human races as round wheels can run smoothly on the ground. Thus, this shows that studying of history is beneficial to the future of the human race as it allows us to learn from the mistakes and not repeat them again in future.