The work of Charles Kindleberger, who died on July 7th, has never been more In “Manias, Panics and Crashes”, Mr Kindleberger provided a. Manias, Panics, and Crashes has ratings and reviews. Charles Kindleberger’s brilliant, panoramic history revealed how financial crises follow a. Manias, Panics and Crashes, is a scholarly and entertaining account of the way that mismanagement of money and credit has Kindleberger, Charles P. (et al.).
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For those who yearn panis numbers, standard series on bank reserves, foreign trade, commodity prices, money supply, security prices, rate of interest, and the like are fairly readily available in the historical statistics. While the subject matter may not appeal to everyone, a book like this provides essential support for the truism that those who ignore history are condemned to repeat it. This book was mabias dense and difficult to read. There are one or two chapters that are relatively easy to follow, but the majority leap from historical crisis to crisis with little in the way of context or explanation.
Both the descriptions and proscriptions of this book, especially its focus on the lender of last resort, seem to be amazingly prescient though it probably just that this iconic text was on the bookshelf anc every major player in the fed at the time. NOT true, that’s the sole responsibility of management. This reads like an academic treatise written exclusively for tenured professors in their ivory towers, rather than a book that I can recommend to a lay person interes This book was kindeberger dense and difficult to read.
Slavery after Rome, — Nov 25, Adam McNamara rated it liked it Shelves: With all of the talk about stock market manipulation, derivative fraud, and the imminent collapse of the global economic system, this book rings with the reverberation kindldberger truth understood over the long-term.
The edition reads like a playbook for the collapse and bailout of of I read the 1st edition written inpublished If you like books and love to build cool products, we may be looking for you.
Moreover, any trace of analysis, opinion and conclusions postponed till the very last chapter and Anyone who picks up this book hoping it may help make sense of what’s going on in the world and the economy would be bitterly disappointed.
This copy as gifted to me by my alma mater at an event where Professor Aliber, the co-author of this edition, spoke. Refresh and try again. Apr 19, Jim Rossi rated it it was amazing. To see what your friends thought of this book, please sign up. As speculators pile in, the price of the asset grows higher than can be justified based on future cash flows. The book reads like 10 different people wrote parts of it and didn’t know what others were writing.
There may be a way to track the flows of this capital but the financial transaction tax being largely rebuffed by free market capitalists, there does not appear to be any other means manizs predict or curtail the next crisis but just wait it to happen.
As a history of the causes of, and minutia behind, the many financial crashes and scares the financial services industry has served up during its long and torrid history, it is very good.
Insiders notice this and cash out. I recently had cause to re-read this book, and was surprised to be able to observe the connections between historical financial crises and economic events in our current economy.
Manias, Panics, and Crashes: A History of Financial Crises by Charles P. Kindleberger
Everyone that opens this books has an opportunity to learn something new. May 23, Dylan rated it really liked it. I eschewed real estate and stocks and had my my money in CDs earning 4 to 5. The book is written for both a professional-economist and lay readership. Instead of taking crises case by case, the author divides them on stages and gives a very charlfs description of what happened on this or that stage, what are the similarities. The best known and most highly regarded book on financial crises Financial crises and speculative excess can be traced back to the very beginning of trade and commerce.
I wonder how this compares to “This time is different.
Manias, Panics, and Crashes: A History of Financial Crises
If you want to understand more about today’s current economic events in Cypress and Greece and what these mean to the US, Chinese and Russian economies, you should study Kindleberger’s book. I enjoyed this book first as an economics student in my undergraduate college course of study. It doesn’t read as a treatise on the economics causes and consequences of financial cycles, panics, etc. Feb 23, Nathanael rated it did not like it Shelves: Bailed early; just could not get into the topic, and the sentence structure and phrasing felt odd.
Indeed he seems to me to ascribe to the view which seems standard all through history: Fuld should have gone to prison for that and other things.
Jan 06, James rated it it was ok Shelves: All of his conclusions are drawn from analysis of historical events dating back toand give a clear and consistent picture of how bubbles and crashes work. It is an eerie mankas of the true mania that seized the country in when the government communicated its intent to effectively free the financial markets of regulatory oversight.
This can be disorienting for the reader who is not already familiar with the episodes, which description I imagine fits kindkeberger all readers. You could not be signed in. I think it would have been a lot more fun to sit down and talk with Kindleberger about his theories than to read this book.
Was a bit disappointing, most of the book is about events that happened more than years ago, short coverage of the last 80 years. From time to time the price of some class of assets starts to rise and people get panocs.
His sharply drawn history confronts a host of key questions. I also think some more perspective on why credit bubbles get inflated would have been helpful. Sometimes, a bubble can burst without drastic effect e. The author at length concludes that we are little advanced over Walter Bagehot, the midth-century economic journalist — it’s good to do rescues, when we can, but without being too consistent or predictable about it.