Manias, Panics, and Crashes: A History of Financial Crises, Seventh Edition

Charles P. Kindleberger and Robert Aliber.

"Manias, Panics, and Crashes" is a seminal work in the field of finance that traces the history of financial crises dating back to the 17th century Tulip Mania in Holland. In this seventh edition, the authors (Charles P. Kindleberger and Robert Aliber) provide an updated analysis of financial crises that have unfolded since the sixth edition was published in 2011. The book examines the common causes of financial crises, such as excessive borrowing, speculative bubbles, and inadequate regulation, and provides a detailed analysis of specific crises including the Great Depression, the Asian financial crisis of 1997, and the global financial crisis of 2008.

The authors introduce readers to the key players in financial crises, including regulators, investors, and politicians, and explore how their actions can either prevent or exacerbate financial crises. Further, the book explains how financial crises can spread across borders, wreaking havoc throughout the global economy.

Overall, "Manias, Panics, and Crashes" is an essential read for anyone interested in understanding the nature of financial crises and the factors that contribute to their occurrence. The authors’ scholarship and insights make this book a must-read for students, policymakers, investors, and anyone interested in the workings of the modern global economy.

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