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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His sharply drawn history confronts a host of key questions. For those interested in the generic anatomy of crises, I think it’s better to read Minsky himself, who is pretty accessible. In addition to sincere promoters of the new asset, there are incompetents and frauds promising returns they can’t reliably deliver, or have no intention to deliver. Kindleberger’s “Manias, Panics and Crashes” is a must read for anyone active in the markets. This article is also available for rental through DeepDyve.
Dec 15, Mehrsa rated it really liked it. I also think some more perspective on why credit bubbles get in This book was referred to by another book I’ve been reading. Jan 06, James rated it it was ok Shelves: This is a classic book in the financial world, but I was somewhat disappointed with it.
Manias, Panics, and Crashes: A History of Financial Crises by Charles P. Kindleberger
Sign In or Create an Account. If you take t This is not the easiest book to read without some prior knowledge of economic history.
In the event, I decided against it. Jun 01, Jenn M rated it liked it. Sign in via your Institution Sign in. This is a rare example of literary economics. The author’s account goes kindlebegger like this: Written by an eminent economic historian, this book outlines what I believe is the standard view of bubbles, crashes and financial ccharles — three closely related but not identical topics. For those looking for detailed descriptions of specific crises, something like Bagehot’s “Lombard Street” is more entertaining.
If you originally registered with a username please use that to sign in. And he was right! NOT true, that’s the sole responsibility of management. When people notice the decline, there’s a feedback loop where everybody wants to sell “before the crowd” — hence, the crash.
I had been hoping for more of a straightforward narrative description of each crisis, many of which, after all, occurred in unfamiliar settings. Kindleberger uses Hyman Minsky’s “anatomy” of financial kindlberger to discuss commonalities between a number of different financial panics from different countries at different times in history. Charles Kindleberger’s brilliant, panoramic history revealed how financial crises follow a nature-like rhythm: Books charls Charles P.
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. Bailed early; just could not get into the topic, and the sentence structure and phrasing felt odd.
Moreover, any trace kindleberher analysis, opinion and conclusions postponed till the very last chapter and here it is big spoiler “Lender of last resort is a necessary evil”. Feb 23, Nathanael rated it did not like it Shelves: I totally disagree that Lehmann bro should have been bailed out. The author notes that “bank holidays” [and their shorter-timescale equivalent, the trading circuit-breakers] rarely work — those devices leave investors more anxious to get out quickly, while they still can, the next time.
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. Most users should sign in with their email address. This book was incredibly dense and difficult to read. Perhaps the most striking conclusion one can draw from their study is how similar the causes of each wave has been. Like Samuelson says on the cover, I read it and re-read it and thus had no need to kick myself charlss the Great Recession.
Important material delivered in a dry, difficult to follow narrative. Mar 30, Oleksandr Zholud rated it really liked it. No trivia or quizzes yet.
As to his conclusions I have read different views by other authors on some of the panics mentioned which made to me, obviously more sense.
Manias, Panics, and Crashes: A History of Financial Crises
If you want to learn how to identify downcycles early, and to understand their progression and eventual end, look no further than Kindleberger’s work. Prices falter and fall. I recently had cause to re-read this crqshes, and was surprised to be able to observe the connections between historical financial crises and economic events in our current economy. Don’t already have an Oxford Academic account? A case of, “I’d have done it differently if I was crqshes it.
Majority of the text reads as one long list of historic events that author doesn’t even recount, but simply refers to. It doesn’t read as a treatise on the economics causes and consequences of financial cycles, panics, etc.
I found the book generally easy reading though was confused about technicalities at some points. The book reads like 10 different people wrote parts of it and didn’t know what others were writing.
Ignore it at your peril. My friend was amazed at the power of this book, and you should be too. It can be a very nice reference book but reading it is a bit hard.
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