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Manias, Panics and Crashes

A History of Financial Crises

  • Book
  • © 2005

Overview

Authors:
  1. Charles P. Kindleberger
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  2. Robert Z. Aliber
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Table of contents (13 chapters)

  1. Front Matter

    Pages i-viii
    Download chapter PDF

  2. Financial Crisis: a Hardy Perennial

    • Charles P. Kindleberger, Robert Z. Aliber
    Pages 1-20

  3. Anatomy of a Typical Crisis

    • Charles P. Kindleberger, Robert Z. Aliber
    Pages 21-32

  4. Speculative Manias

    • Charles P. Kindleberger, Robert Z. Aliber
    Pages 33-54

  5. Fueling the Flames: the Expansion of Credit

    • Charles P. Kindleberger, Robert Z. Aliber
    Pages 55-76

  6. The Critical Stage

    • Charles P. Kindleberger, Robert Z. Aliber
    Pages 77-96

  7. Euphoria and Economic Booms

    • Charles P. Kindleberger, Robert Z. Aliber
    Pages 97-105

  8. International Contagion

    • Charles P. Kindleberger, Robert Z. Aliber
    Pages 106-122

  9. Bubble Contagion: Tokyo to Bangkok to New York

    • Charles P. Kindleberger, Robert Z. Aliber
    Pages 123-142

  10. Frauds, Swindles, and the Credit Cycle

    • Charles P. Kindleberger, Robert Z. Aliber
    Pages 143-175

  11. Policy Responses: Letting it Burn Out, and Other Devices

    • Charles P. Kindleberger, Robert Z. Aliber
    Pages 176-194

  12. The Domestic Lender of Last Resort

    • Charles P. Kindleberger, Robert Z. Aliber
    Pages 195-210

  13. The International Lender of Last Resort

    • Charles P. Kindleberger, Robert Z. Aliber
    Pages 211-238

  14. The Lessons of History and the Most Tumultuous Decades Ever

    • Charles P. Kindleberger, Robert Z. Aliber
    Pages 239-255

  15. Back Matter

    Pages 256-309
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Keywords

About this book

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...both timely and timeless.' In this new, updated fifth edition, Kindleberger and Aliber expand upon the ideas presented in the previous edition, and include two new chapters on the real estate price bubble that occurred in Norway, Sweden and Finland at the end of the 1980s, and the three asset price bubbles that occurred between 1985 and 2000 in Japan and other Asian countries. 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.

Reviews

'Charles Kindleberger has written, with great polish and style, an analysis of the stages of financial crises over the last two and a half centuries.' - Patrick Minford, Economic Journal

'Manias, Panics and Crashes is a scholarly account for the way that mismanagement of money and credit has led to financial explosions over the centuries.' - Richard Lambert, Financial Times

'Professor Kindleberger has the welcome gifts of carrying lightly an immense weight of learning and of always using his imagination in deciding how to deploy it. These gifts are as evident as ever in his latest book.' - W.Ashworth, Economic History Review

'Underneath the hilarious anecdotes, the elegant epigrams, and the graceful turns of phrase, Kindleberger is deadly serious. The manner in which humans beings earn their livings is no laughing matter to him, especially when they attempt to do so at the expense of one another. As he so effectively demonstrates, manias, panics, and crashes are the consequence of an economic environment that cultivates cupidity, chicanery, and rapaciousness rather than a devout belief in the Golden Rule.' - Peter L. Bernstein

'Robert Aliber has produced superb update of the classic book by Charles Kindleberger which remains as relevant as ever.' - Martin Wolf, Financial Times

' if what you're after is a comprehensive guide to financial crises since the dawn of the modern era, buy Charles Kindleberger's Manias, Panics and Crashes: a History of Financial Crises an excellent read.' Edmund Conway, The Telegraph

About the authors

CHARLES P. KINDLEBERGER was the Ford Professor of Economics at MIT for 33 years. He was a financial historian and prolific writer who has published 30 books.

ROBERT ALIBER is a professor of International Economics and Finance at the University of Chicago Graduate School of Business, where he has been a faculty member since 1965.

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