Synopses & Reviews
Synopsis
The first edition of Charles Kindleberger's brilliant, panoramic history, published in 1978, summarized the pattern of market developments and the five stages in the evolution of a financial crisis. Robert Z. Aliber probes the sequence of four waves of crises that have involved more than forty countries since the early 1980s and shows that implosions of their banking systems do not follow from the decisions of 'bad actors' but instead are symptomatic of a dysfunctional international monetary arrangement.
With an updated Foreword from Robert M. Solow and a new Afterword from Lord Robert Skidelsky, this seventh edition exemplifies the continued importance of Kindleberger's work and Aliber's ongoing examination of financial crises around the world.
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Synopsis
This seventh edition of an investment classic has been thoroughly revised and expanded following the latest crises to hit international markets. Renowned economist Robert Z. Aliber introduces the concept that global financial crises in recent years are not independent events, but symptomatic of an inherent instability in the international system.