History And Financial Crisis
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History And Financial Crisis
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Author : Christopher Kobrak
language : en
Publisher: Routledge
Release Date : 2014-06-11
History And Financial Crisis written by Christopher Kobrak and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-11 with Business & Economics categories.
One striking weaknesses of our financial architecture, which helped bring on and perhaps deepen the Panic of 2008, is an inadequate appreciation of the past. Information about how the system functioned and the reliability of organizations and institutional controls were drawn from a relatively narrow group of recent examples. History and Financial Crisis: Lessons from the 20th Century is an attempt to broaden the range of historical sources used by policy makers to understand and treat financial crises. Many recent discussions of the 2008 panic and the economic turmoil have found the situation to either be unprecedented or greatly similar to that of 1931. However, the book's wide range of contributors suggest that the economic crisis of 2008 cannot be categorised in this way. This book was originally published as a special issue of Business History.
The Origin Of Financial Crises
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Author : George Cooper
language : en
Publisher: Vintage
Release Date : 2008-12-09
The Origin Of Financial Crises written by George Cooper and has been published by Vintage this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-12-09 with Business & Economics categories.
In a series of disarmingly simple arguments financial market analyst George Cooper challenges the core principles of today's economic orthodoxy and explains how we have created an economy that is inherently unstable and crisis prone. With great skill, he examines the very foundations of today's economic philosophy and adds a compelling analysis of the forces behind economic crisis. His goal is nothing less than preventing the seemingly endless procession of damaging boom-bust cycles, unsustainable economic bubbles, crippling credit crunches, and debilitating inflation. His direct, conscientious, and honest approach will captivate any reader and is an invaluable aid in understanding today's economy.
Manias Panics And Crashes
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Author : C. Kindleberger
language : en
Publisher: Springer
Release Date : 2005-08-10
Manias Panics And Crashes written by C. Kindleberger and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-08-10 with Business & Economics categories.
Manias, Panics and Crashes , is a scholarly and entertaining account of the way that mismanagement of money and credit has led to financial explosions over the centuries. Covering such topics as the history and anatomy of crises, speculative manias, and the lender of last resort, this book has been hailed as 'a true classic...both timely and timeless.' In this new, updated fifth edition, Kindleberger and Aliber expand upon the ideas presented in the previous edition, and include two new chapters on the real estate price bubble that occurred in Norway, Sweden and Finland at the end of the 1980s, and the three asset price bubbles that occurred between 1985 and 2000 in Japan and other Asian countries. Selected as one of the best investment books of all time by the Financial Times, Manias, Panics and Crashes puts the turbulence of the financial world in perspective.
A Critical History Of Financial Crises
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Author : Haim Kedar-Levy
language : en
Publisher: World Scientific
Release Date : 2015-11-26
A Critical History Of Financial Crises written by Haim Kedar-Levy and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-11-26 with Business & Economics categories.
"While each financial crisis is unique and has its own special features, there are a lot of similarities in the dynamics leading to a crisis and also in their resolutions. Some of the financial crises are caused by the lack of appropriate regulation, but often the regulators were ignoring the signals of imminent crises, while serving implicitly or explicitly, the financial industry. In his book, Prof. Kedar-Levy is providing a fresh look at many famous financial crises around the globe, analysing their causes and effects. The special role of regulators is highlighted, including the "Capture Theory" in practice. This book is suitable for economist as well as for those interested in economic history, and for all those concerned with the stability of current international financial markets. Professor Dan GalaiThe Hebrew University, Jerusalem"--
A History Of Financial Crises
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Author : Cihan Bilginsoy
language : en
Publisher: Routledge
Release Date : 2014-11-27
A History Of Financial Crises written by Cihan Bilginsoy and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-11-27 with Business & Economics categories.
"Once-in-a-lifetime" financial crises have been a recurrent part of life in the last three decades. It is no longer possible to dismiss or ignore them as aberrations in an otherwise well-functioning system. Nor are they peculiar to recent times. Going back in history, asset price bubbles and bank-runs have been an endemic feature of the capitalist system over the last four centuries. The historical record offers a treasure trove of experience that may shed light on how and why financial crises happen and what can be done to avoid them - provided we are willing to learn from history. This book interweaves historical accounts with competing economic crisis theories and reveals why commentaries are often contradictory. First, it presents a series of episodes from tulip mania in the 17th century to the subprime mortgage meltdown. In order to tease out their commonalities and differences, it describes political, economic, and social backgrounds, identifies the primary actors and institutions, and explores the mechanisms behind the asset price bubbles, crashes, and bank-runs. Second, it starts with basic economic concepts and builds five competing theoretical approaches to understanding financial crises. Competing theoretical standpoints offer different interpretations of the same event, and draw dissimilar policy implications. This book analyses divergent interpretations of the historical record in relation to how markets function, the significance of market imperfections, economic decision-making process, the role of the government, and evolutionary dynamics of the capitalist system. Its diverse theoretical and historical content of this book complements economics, history and political science curriculum.
Manias Panics And Crashes
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Author : Robert Z. Aliber
language : en
Publisher: Springer
Release Date : 2017-12-07
Manias Panics And Crashes written by Robert Z. Aliber and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-12-07 with Business & Economics categories.
This seventh edition of an investment classic has been thoroughly revised and expanded following the latest crises to hit international markets. Renowned economist Robert Z. Aliber introduces the concept that global financial crises in recent years are not independent events, but symptomatic of an inherent instability in the international system.
All The Devils Are Here
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Author : Bethany McLean
language : en
Publisher: Penguin
Release Date : 2011-08-30
All The Devils Are Here written by Bethany McLean and has been published by Penguin this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-08-30 with Business & Economics categories.
"Hell is empty, and all the devils are here." -Shakespeare, The Tempest As soon as the financial crisis erupted, the finger-pointing began. Should the blame fall on Wall Street, Main Street, or Pennsylvania Avenue? On greedy traders, misguided regulators, sleazy subprime companies, cowardly legislators, or clueless home buyers? According to Bethany McLean and Joe Nocera, two of America's most acclaimed business journalists, the real answer is all of the above-and more. Many devils helped bring hell to the economy. And the full story, in all of its complexity and detail, is like the legend of the blind men and the elephant. Almost everyone has missed the big picture. Almost no one has put all the pieces together. All the Devils Are Here goes back several decades to weave the hidden history of the financial crisis in a way no previous book has done. It explores the motivations of everyone from famous CEOs, cabinet secretaries, and politicians to anonymous lenders, borrowers, analysts, and Wall Street traders. It delves into the powerful American mythology of homeownership. And it proves that the crisis ultimately wasn't about finance at all; it was about human nature. Among the devils you'll meet in vivid detail: • Angelo Mozilo, the CEO of Countrywide, who dreamed of spreading homeownership to the masses, only to succumb to the peer pressure-and the outsized profits-of the sleaziest subprime lending. • Roland Arnall, a respected philanthropist and diplomat, who made his fortune building Ameriquest, a subprime lending empire that relied on blatantly deceptive lending practices. • Hank Greenberg, who built AIG into a Rube Goldberg contraption with an undeserved triple-A rating, and who ran it so tightly that he was the only one who knew where all the bodies were buried. • Stan O'Neal of Merrill Lynch, aloof and suspicious, who suffered from "Goldman envy" and drove a proud old firm into the ground by promoting cronies and pushing out his smartest lieutenants. • Lloyd Blankfein, who helped turn Goldman Sachs from a culture that famously put clients first to one that made clients secondary to its own bottom line. • Franklin Raines of Fannie Mae, who (like his predecessors) bullied regulators into submission and let his firm drift away from its original, noble mission. • Brian Clarkson of Moody's, who aggressively pushed to increase his rating agency's market share and stock price, at the cost of its integrity. • Alan Greenspan, the legendary maestro of the Federal Reserve, who ignored the evidence of a growing housing bubble and turned a blind eye to the lending practices that ultimately brought down Wall Street-and inflicted enormous pain on the country. Just as McLean's The Smartest Guys in the Room was hailed as the best Enron book on a crowded shelf, so will All the Devils Are Here be remembered for finally making sense of the meltdown and its consequences.
Manias Panics And Crashes
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Author : Charles P. Kindleberger
language : en
Publisher: Wiley
Release Date : 2000-12-04
Manias Panics And Crashes written by Charles P. Kindleberger and has been published by Wiley this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-12-04 with Business & Economics categories.
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. Since its introduction in 1978, this book has charted and followed this volatile world of financial markets. Charles Kindleberger's brilliant, panoramic history revealed how financial crises follow a nature-like rhythm: they peak and purge, swell and storm. Now this newly revised and expanded Fourth Edition probes the most recent "natural disasters" of the markets--from the difficulties in East Asia and the repercussions of the Mexican crisis to the 1992 Sterling crisis. His sharply drawn history confronts a host of key questions. Charles P. Kindleberger (Boston, MA) was the Ford Professor of Economics at MIT for thirty-three years. He is a financial historian and prolific writer who has published over twenty-four books.
A Brief History Of Doom
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Author : Richard Vague
language : en
Publisher: University of Pennsylvania Press
Release Date : 2019-05-17
A Brief History Of Doom written by Richard Vague and has been published by University of Pennsylvania Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-17 with Business & Economics categories.
Financial crises happen time and again in post-industrial economies—and they are extraordinarily damaging. Building on insights gleaned from many years of work in the banking industry and drawing on a vast trove of data, Richard Vague argues that such crises follow a pattern that makes them both predictable and avoidable. A Brief History of Doom examines a series of major crises over the past 200 years in the United States, Great Britain, Germany, France, Japan, and China—including the Great Depression and the economic meltdown of 2008. Vague demonstrates that the over-accumulation of private debt does a better job than any other variable of explaining and predicting financial crises. In a series of clear and gripping chapters, he shows that in each case the rapid growth of loans produced widespread overcapacity, which then led to the spread of bad loans and bank failures. This cycle, according to Vague, is the essence of financial crises and the script they invariably follow. The story of financial crisis is fundamentally the story of private debt and runaway lending. Convinced that we have it within our power to break the cycle, Vague provides the tools to enable politicians, bankers, and private citizens to recognize and respond to the danger signs before it begins again.
Manias Panics And Crashes
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Author : Charles P. Kindleberger
language : en
Publisher: Wiley
Release Date : 1996-12-02
Manias Panics And Crashes written by Charles P. Kindleberger and has been published by Wiley this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-12-02 with Business & Economics categories.
Manias, Panics, and Crashes The best known and most highly regarded book on market crisis, Manias, Panics, and Crashes is entertaining, exhaustive, and thoroughly engaging. Since its introduction in 1978, it has charted a new landscape in the volatile world of financial markets. Charles Kindleberger's brilliant, panoramic history revealed how financial crises follow a nature-like rhythm: they peak and purge, swell and storm. Now in a newly revised and expanded third edition, Manias, Panics, and Crashes probes the most recent "natural disasters" of the markets-from Black Monday to the Japanese boom and bust, from the Sterling crisis and Peso devaluation to the potential "bubble" of today's technology stocks. Kindleberger's writing is both captivating and colorful, leading the reader through a myriad of financial free falls. From the currency devaluation in the Holy Roman Empire in 1618, through the California gold rush of the 1840s and '50s, all the way up to the crash of 1987 and last year's Peso devaluation, his sharply drawn history confronts a host of key questions: In the ups and downs of market behavior, where is the line between rational and irrational? Are the markets a fool's paradise in an explosive world? When the storm expands to dangerous proportions, who will calm the panic amid the thundering squall? Should a "lender of last resort" intervene to repair the wreckage and bury the carnage? Along with scores of casualties and criminals, a revealing common thread emerges from this rich history of manias, panics, and crashes: market crises are associated with greed and avarice. Just as money evolved from coins to include bank notes, bills of exchange, bank deposits, and checks, greed likewise took on many different forms. Lightning will strike an economic environment in strife, and Kindleberger explores what happens to the markets when conflicting interests arise. Manias, Panics, and Crashes can be regarded as a warning or a proposition, reminding readers, in many ways, that what goes around comes around. Like all true classics, Kindleberger's book remains timely-for better or for worse. "One never picks up a work by Charles Kindleberger without anticipating a feast of entertainment. But underneath the hilarious anecdotes, the elegant epigrams, and the graceful turns of phrase, Kindleberger is deadly serious." -from the Foreword by Peter L. Bernstein, author of Capital Ideas: The Improbable Origins of Modern Wall Street Originally written in 1978, Manias, Panics, and Crashes is still the best known and most highly regarded book on financial crises. From the currency devaluation in the Holy Roman Empire in 1618, through the California gold rush of the 1840s and '50s, all the way up to the crash of 1987 and last year's Peso devaluation, Manias, Panics, and Crashes reminds us that with regard to excess, greed, crisis, and money-what goes around still comes around. Acclaim for Manias, Panics, and Crashes "[Manias, Panics, and Crashes] is a scholarly account of the way that mismanagement of money and credit has led to financial explosions over the centuries." -Richard Lambert, Financial Times "Manias, Panics, and Crashes is a durable guide to meditation: wise, witty, and practical. It is a template against which to measure the latest financial crisis-whatever and whenever that happens to be." -David Warsh, The Boston Globe "Manias, Panics, and Crashes glistens among the classic books on economics and finance." -S. Jay Levy, Chairman, The Jerome Levy Economics Institute of Bard College "This book sparkles with the best of Kindleberger's wit, insight, and passion for financial history. A real delight." -Robert Z. Aliber, Professor of International Economics and Finance, University of Chicago, Graduate School of Business