<$BlogRSDUrl$>

Monday, October 13, 2008

Manias, panics, etc. 

By TigerHawk at 10/13/2008 05:04:00 PM


Twice today people have recommended that I read Charles P. Kindleberger's book Manias, Panics, and Crashes: A History of Financial Crises, and Megan McArdle calls it "the definitive primer." The book is decades old, but it is #107 on Amazon as I write this. People obviously have manias and panics on the brain.

Anyway, one of my personal recommenders said that he had reread the last couple of chapters, which deal with government intervention in relief of crashes, over the weekend. The good news is that governments are apparently doing this time what they have always done in this situation. Assuming, of course, that "this situation" is not fundamentally different from its precedents.


Permalink - - Main

1 Comments:

By Anonymous Anonymous, at Mon Oct 13, 05:22:00 PM:

So far, however, they are not -- as I understand it -- engaging in the protectionism that is thought to have exacerbated the problems in the 30s.

And it seems that markets are taking some comfort from G-7 coordination.  

Post a Comment


This page is powered by Blogger. Isn't yours?