Dylan G. answered 01/14/20
M.A. in Educational Psychology
Looks like there are two parts: (1) the past will repeat itself if we don't learn from it and (2) our present state influences the way we understand past events, unless we recognize when it happens. The news is riddled with this but another example might be buying a car. Let's say you bought a Volvo when you were younger and there were lots of problems with it. You had to take it to the mechanic frequently and because it was such an expense you probably wouldn't buy a Volvo again (learning from the past). However, you might think to yourself that you're more financially prepared or believe that Volvo's maintenance and repair has become less frequent and less costly. This could lead to you making a poor investment on the Volvo. A strategy that might help combat this presentism would be to look back at the exact costs of the repairs and breakdowns. Seeing the data might persuade you to shop with a different car company.