Fiscal history refers to the study of government financial practices over time, including taxation, spending, and budgeting. It examines how different governments manage their finances, respond to economic challenges, and implement policies that affect their citizens. Understanding fiscal history helps to analyze the effectiveness of various economic strategies and their long-term impacts on society. Key events in fiscal history include the establishment of income taxes, the creation of national budgets, and responses to economic crises like the Great Depression. Important figures, such as John Maynard Keynes, have influenced fiscal policies, advocating for government intervention during economic downturns to stimulate growth and stability.