Carmen Reinhart, Kenneth Rogoff -- This Time is Different: Eight torrent

Carmen M., Reinhart Kenneth Rogoff -- This Time is Different: Eight Centuries of Financial Folly, PDF format, 36.8 MB

Nothing new about the current economic crisis, claim the authors. It's all happened many, many times before -- and they'll tell you when, where and how..


****************

Reinhart and Rogoff have compiled an impressive database, which covers eight centuries of government debt defaults from around the world. They have also collected statistics on inflation rates from every country where information is available and on banking crises and international capital flows over the past couple of centuries. This lengthy historical study gives what they call a 'panoramic view' of the unending cycle of boom and bust, showing how claims that 'this time is different' are invariably proven wrong. . . . This Time Is Different doesn't simply explain what went wrong in our most recent crisis. This book also provides a roadmap of how things are likely to pan out in the years to come. . . . This Time Is Different is an important addition to the literature of financial history.
(Edward Chancellor Wall Street Journal )

[E]ssential reading . . . both for its originality and for the sobering patterns of financial behaviour it reveals.
(Economist )

****************************