Financial crisis: a hardy perennial -- Anatomy of a typical crisis -- Speculative manias -- Fueling the flames: Monetary expansion -- The emergence of swindles -- The critical stage -- International propagation -- Letting it burn out and other devices -- The lender of last resort -- The international lender of last resort -- Conclusion: The lessons of history.
Includes bibliographical references (pages 258-286) and index.
Financial crisis: a hardy perennial -- Anatomy of a typical crisis -- Speculative manias -- Fueling the flames: Monetary expansion -- The emergence of swindles -- The critical stage -- International propagation -- Letting it burn out and other devices -- The lender of last resort -- The international lender of last resort -- Conclusion: The lessons of history.
Table of contents provided by Syndetics
Foreword (p. vii)
1 Financial Crisis: a Hardy Perennial (p. 1)
2 Anatomy of a Typical Crisis (p. 21)
3 Speculative Manias (p. 33)
4 Fueling the Flames: the Expansion of Credit (p. 55)
5 The Critical Stage (p. 77)
6 Euphoria and Economic Booms (p. 97)
7 International Contagion (p. 106)
8 Bubble Contagion: Tokyo to Bangkok to New York (p. 123)
9 Frauds, Swindles, and the Credit Cycle (p. 143)
Reviews provided by Syndetics
CHOICE Review
This is the latest edition of the classic volume (1st ed., CH, Nov'78) by the late MIT professor Charles Kindleberger. The fifth edition (2005) and this sixth edition have been coauthored with Aliber (emer., Univ. of Chicago, Booth School of Business). The first half dozen of the book's 15 chapters are quite similar to chapters in earlier editions and consider the typical pattern of financial crises: speculative manias, the expansion of credit, and the emergence--and bursting--of financial bubbles. Similarly, later chapters on domestic and international lenders of last resort are revisions of chapters that appeared in earlier editions. A chapter on frauds and swindles has been updated to include the Bernie Madoff episode. Further additions include chapters on modern financial bubbles during the last 40 years; the Lehman Brothers panic; and an epilogue speculating on the 2010-20 decade. Any library that does not own an earlier edition of this book should definitely acquire this edition. Given the additions that have been made since 2005, even libraries that own earlier editions should seriously consider acquiring this edition too. Summing Up: Highly recommended. All readership levels. R. Grossman Wesleyan University