Manias, Panics and Crashes, Fifth Edition 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 ocurred 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.
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Review
'Charles Kindleberger has written, with great polish and style, an analysis of the stages of financial crises over the last two and a half centuries.' - Patrick Minford, Economic Journal
'Manias, Panics and Crashes is a scholarly account for the way that mismanagement of money and credit has led to financial explosions over the centuries.' - Richard Lambert, Financial Times
'Professor Kindleberger has the welcome gifts of carrying lightly an immense weight of learning and of always using his imagination in deciding how to deploy it. These gifts are as evident as ever in his latest book.' - W.Ashworth, Economic History Review
'Underneath the hilarious anecdotes, the elegant epigrams, and the graceful turns of phrase, Kindleberger is deadly serious. The manner in which humans beings earn their livings is no laughing matter to him, especially when they attempt to do so at the expense of one another. As he so effectively demonstrates, manias, panics, and crashes are the consequence of an economic environment that cultivates cupidity, chicanery, and rapaciousness rather than a devout belief in the Golden Rule.' - Peter L. Bernstein
'Robert Aliber has produced superb update of the classic book by Charles Kindleberger which remains as relevant as ever.' - Martin Wolf, Financial Times
'…if what you're after is a comprehensive guide to financial crises since the dawn of the modern era, buy Charles Kindleberger's Manias, Panics and Crashes: a History of Financial Crises…an excellent read.' – Edmund Conway, The Telegraph
'Manias, Panics and Crashes is a scholarly account for the way that mismanagement of money and credit has led to financial explosions over the centuries.' - Richard Lambert, Financial Times
'Professor Kindleberger has the welcome gifts of carrying lightly an immense weight of learning and of always using his imagination in deciding how to deploy it. These gifts are as evident as ever in his latest book.' - W.Ashworth, Economic History Review
'Underneath the hilarious anecdotes, the elegant epigrams, and the graceful turns of phrase, Kindleberger is deadly serious. The manner in which humans beings earn their livings is no laughing matter to him, especially when they attempt to do so at the expense of one another. As he so effectively demonstrates, manias, panics, and crashes are the consequence of an economic environment that cultivates cupidity, chicanery, and rapaciousness rather than a devout belief in the Golden Rule.' - Peter L. Bernstein
'Robert Aliber has produced superb update of the classic book by Charles Kindleberger which remains as relevant as ever.' - Martin Wolf, Financial Times
'…if what you're after is a comprehensive guide to financial crises since the dawn of the modern era, buy Charles Kindleberger's Manias, Panics and Crashes: a History of Financial Crises…an excellent read.' – Edmund Conway, The Telegraph
About the Author
CHARLES P. KINDLEBERGER was the Ford Professor of Economics at MIT for 33 years. He was a financial historian and prolific writer who has published 30 books.
ROBERT ALIBER is a professor of International Economics and Finance at the University of Chicago Graduate School of Business, where he has been a faculty member since 1965.
ROBERT ALIBER is a professor of International Economics and Finance at the University of Chicago Graduate School of Business, where he has been a faculty member since 1965.
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Most Helpful Customer Reviews
1 of 1 people found the following review helpful
Format:Paperback
We live in an environment shaped by the distress and uncertainty caused by almost continual economic crisis. Why is this the case? Why do we have to endure boom and bust? Millions loose their jobs, homes and savings with each crisis, why? This book provides a clear, incisive explanation as to why we fall continually into this trap. The authors offer a model for understanding the features of recurrent economic crisis which is compelling and well founded.
The book is well written and does not require any prior understanding of economic theory or advanced mathematics.
The book is well written and does not require any prior understanding of economic theory or advanced mathematics.
By slangava
Format:Paperback
The book basically explain how crises grow and burst. The author uses history to explain the present, frankly I expected Kindleberger to use mathematical models or at least a bit of math to explain the past and the present of financial markets. Needless to say I was wrong.
After all I still recommend this book, it shows how crises develop and why.
After all I still recommend this book, it shows how crises develop and why.
4 of 14 people found the following review helpful
By Jack London
Format:Paperback
Good to read to have a long-term perspective. I wish the authors dedicated more effort to explaining what causes bubbles, after all, brains of such great universities are involved (MIT, Chicago...)
Listmania!
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