Hindsight bias is damaging your decision-making #shorts

Looking back into the past, we often think we can understand how things really were. Like what caused the 2008 financial crisis, the collapse of communism, or the First World War. Because we know how things turned out. But now we know about hindsight bias. We should be suspicious of this feeling of understanding. The idea we can look back on history and understand it should be viewed with skepticism. This hurts our ability to learn from history. It is much easier after the event to sort the relevant from the irrelevant signals. After the event, of course, a signal is always crystal clear.