Manias, panics, and crashes: a history of financial crises

Table of Contents:

1. Financial Crises: A Hardy Perennial
2. The Anatomy of a Typical Crisis
3. Speculative Manias
4. Fueling the Flames: The Expansion of Credit
5. The Critical Stage — When the Bubble is About to Pop
6. Euphoria and Paper Wealth
7. Bernie Madoff: Frauds, Swindles, and the Credit Cycle
8. International Contagion 1618–1930
9. Bubble Contagion: Mexico City to Tokyo to Bangkok to New York, London, and Reykjavik
10. Euromania and Eurocrash
11. Policy Responses: Benign Neglect, Exhortation, and Bank Holidays
12. The Domestic Lender of Last Resort
13. The International Lender of Last Resort
14. The Lehman Panic — An Avoidable Crash
15. The Lessons of History

Financial crises and speculative excess can be traced back to the very beginning of trade and commerce. Since its introduction in 1978, this book has charted and followed this volatile world of financial markets. The author, panoramic history revealed how financial crises follow a nature-like rhythm: they peak and purge, swell and storm. Now this newly revised and the expanded seventh edition of an investment classic has been thoroughly revised and expanded following the latest crises to hit international markets. The authors introduce the concept that global financial crises in recent years are not independent events, but symptomatic of an inherent instability in the international system.