This article reviews an emerging area of research within economics that seeks to better understand contemporary economic outcomes by taking a historical perspective. The field has established that many of the contemporary differences in comparative economic development have their roots in the distant past. The insights gained from this literature are not only of academic importance but also useful for thinking about policies that help to address global development moving forward. I provide examples of recent studies that have begun to take on this important next step in the literature by using insights gleaned from historical analyses to better understand policy and its optimal design.