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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Mar 05, Jennifer rated it it was ok Shelves: The author looks particularly at doing nothing, at declaring bank holidays, central bank cash infusions, and international rescues. This cycle, if it grows big enough, is a panic.

I eschewed real estate and stocks and had my my money in CDs chadles 4 to 5. As a history of the causes of, and minutia behind, the many financial crashes and scares the financial services industry kindleberrger served up during its long and torrid history, it is very good.

Manias, Panics, and Crashes: A History of Financial Crises by Charles P. Kindleberger

To ask other readers questions about Manias, Panics, and Crashesplease sign up. Paperback4th editionpages. With all of the talk about stock market manipulation, derivative fraud, and the imminent collapse of the global economic s I enjoyed this book first as an economics student in my undergraduate college course of study.

While other worthy tomes, such as “History of Financial Disasters in 3 Volumes” cover much of the same material, the original organization of Kindleberger’s work is what commends it. If you originally registered with a username please use that to sign in. Tulip bulbs with exciting pretty patterns also qualify — a bulb that produces a new kind of flower is a capital asset, since you can produce many such flowers by cutting.

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

This is more of a supply side shock, which no one has control over after the collapse of the Bretton Woods system. Fuld should have gone to prison for that and other things.


I was in the last class taught by CPK at Tech and count myself very fortunate – the late professor had an insight we have had to relearn painfully in this last financial crisis: Citing articles via Google Scholar.

This is more of a supply side shock, which no one has control over after the collapse There have been many attempts to explain the GFC — greed, irrational behaviours, bell curve, derivatives, excessive leverage, failures by rating agencies, regulatory failure, etc, which all can be groups as a demand side shock.

This book is not easy to read, but it is a great analysis of several economic crashes throughout history from the Holland Tulip crisis to the dot chafles bust and explains what happens to the markets and people.

This is a rare example of literary economics. Anyway a steady walk through the madness of markets and why free unregulated markets are an insane idea. Kindleberger is bone maniqs, and his goal is mainly to analyze common features of bubble cycles. I think that’s the reason the book ha If you’re looking for a colorful, narrative history of financial bubbles, this book is not for you.

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 of every major player in the fed at the time.

Oct 29, Void lon iXaarii rated it it was ok. The book also produces an impression of being hopelessly dated, as neither NASDAQ boom-bust of s neither global crisis of are included. In particular, if people or banks had been borrowing against the now-worthless asset, the individual or bank will now be under water.

It furthers the University’s objective of excellence in research, scholarship, and education by publishing worldwide. You’ll crases need to hit Wikipedia to refresh your macro-economic knowledge– especially at the end of the book, during the discussions of Domestic and International Lenders of Last Resort.

Reading the book at the time I did, it was impossible not to think chaeles Bitcoin. A case of, “I’d have done it differently if I was writing it. One overall message that seems clear is that borrowing-lending leads to speculation and bubbles in real estate, stocks and some weirder assets again and again, there doesn’t seem to be a compelling reason for the insanity to stop either now or any time in the future.


To see what your friends thought of this book, please sign up. Kindlsberger you want to understand crqshes 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. Jul 02, Jim Angstadt rated it it was ok Shelves: At some point the cycle goes into reverse — often due to some prominent kinldeberger, sometimes due to simply a lack of new investors.

The classic pqnics history of capitalisms record of booms and busts. Perhaps the most striking conclusion one can draw from their study is how similar the causes of each wave has been.

You will also come to understand how basic human nature rather than complex financial strategies underlie decisions which repeatedly cycle from beneficial to disastrous consequences for humanity. 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.

But a word of caution to the lay-reader: Towards that end, he tends to pick a feature, then run through ten or twenty examples of how that feature worked during past bubbles. Feb 21, Brad Pendleton rated it did not like it. For those interested in the generic anatomy of andd, I think it’s better to read Minsky himself, who is pretty accessible. I understand that the book has been updated in later editions, the 6th written in