Manias, Panics and Crashes | SpringerLinkAlbert U. Romasco, Charles P. New York: Basic Books. Most users should sign in with their email address. If you originally registered with a username please use that to sign in. To purchase short term access, please sign in to your Oxford Academic account above. Don't already have an Oxford Academic account?
Kindleberger Charles - Manias Panics and Crashes Audiobook
Charles P. Kindleberger
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
What causes financial crises?
A Crisis of Beliefs: investor psychology and financial fragility
American monetary and trade economist and economic historian at M. Charles Poor Kindleberger originated from a patrician family in New York. He studied as an undergraduate at the University of Pennsylvania, receiving his B. After the war, Kindleberger remained with the US government, at the State Department, working on issues related to European reconstruction.. In , Kindleberger left government service and moved into academia, joining the faculty at M. T where he would remain for the remainder of his career.
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.