Charles kindleberger manias panics and crashes pdf
"Manias, Panics and Crashes", by Charles Kindleberger · Lukas PüttmannUse the link below to share a full-text version of this article with your friends and colleagues. Learn more. Volume 65 , Issue 4. The full text of this article hosted at iucr. If you do not receive an email within 10 minutes, your email address may not be registered, and you may need to create a new Wiley Online Library account.
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"Manias, Panics and Crashes", by Charles Kindleberger
Speculative excess, referred to concisely as a mania, and revulsion from such excess in the form of a crisis, crash, or panic can be shown to be, if not inevitable, at least historically common. What happens, basically, is that some event changes the economic outlook. New opportunities for profits are seized, and overdone, in ways so closely resembling irrationality as to constitute a mania. In the manic phase, people of wealth or credit switch out or borrow to buy real or illiquid financial assets. In panic, the reverse movement takes place, from real or financial assets to money, or repayment of debt, with a crash in the prices of […] whatever has been the subject of the mania.
American monetary and trade economist and economic historian at M. Charles Poor Kindleberger originated from a patrician family in New York.
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Charles P. Kindleberger, 1910-2003.
This latest edition of Charlie Kindleberger's classic study of man's serial financial follies, updated by Robert Aliber, brings the story right up to the present. A fount of wisdom not only for students of finance and economics, but also for central bankers and financial market practitioners. It served to help me grasp the gravity of financial crises that afflicted my country and guided me, hopefully, to recommend and take better policy decisions. It has also been an essential teaching tool. For example, on 15 September I asked my students to read at once several chapters so that they could better understand the events that started to unfold that morning. I welcome with enthusiasm this new edition!
It seems that you're in Germany. We have a dedicated site for Germany. Authors: Kindleberger , C. 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 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. He was a financial historian and prolific writer who has published 30 books.