Author Box
Articles Categories
All Categories
Articles Resources

This Time Is Different - Eight Centuries of Financial Folly

February 23, 2011 | Comments: 0 | Views: 132

Book Review: This Time Is Different - Eight centuries of financial folly by Carmen M. Reinhart

The authors of the book Rogoff and Reinhart were perplexed by what they were perceiving years before this book was written so therefore they were the ones who saw the crisis coming. This book is about the financial crisis that has plagued the centuries of human history.

Unlike other books which gives the readers only instances about how bad the situation was, this book gives a more detailed look into the causes that brought along the crisis and what the future implications of it are. In some sense the book is soothing in that we have been here before. On the other hand, this particular crisis is one of only two that were truly global. He calls this one "The Second Great Contraction" (the first, of course, referring to the great depression.)

The authors of the book draw their data from rather unconventional and abstract sources. They are able to reveal to us that whatever the world is facing at the moment, it has actually already occurred in the past including all the bailouts, currency pressures, sovereign stresses, and contagion. They state that the usual causes of such crisis are common but the domestic ones where the people are conned by their own country men are rare and are also known as domestic defaults. They hint that the cost of such defaults will be revealed in small parts as the bailouts and in large part in the lost revenues.

This book will serve as a great guide and a very useful source of data and information to the society. The readers may be disappointed by the lack of exaggeration and the large amount of data given in the text. The authors have found it of no use to spend words on who was the bigger "idiot" for the crisis but they rather stress their criticism on the conclusion.

The book will serve as a fine reference for those students who are interested in the current global monetary crisis.

This Time Is Different - Eight centuries of financial folly exposes centuries of financial mistakes and our lack of power to stop them from recurring.

If you would like to read a chapter of this explosive book click here

For your chance to get a free iPad or amazon kindle do check out thanks.

Source: EzineArticles
Was this Helpful ?

Rate this Article

Article Tags:

This Time Is Different Eight Centuries Of Financial Folly


This Time Is Different Eight Centuries Of

Finding and collecting vintage comic books for fun and profit is something that is interesting, but can be difficult. With so many places to look, narrowing down the options can be painstaking, until

By: Jorge Orduna l Book Reviews > Comics Humor l July 07, 2012 lViews: 286

Action packed story that reads like you are there in person. Lieutenant Commander Andrew Carlson was a U.S. Navy Seal. He was as rough and tough as they come. He was part of a mission to be inserted

By: Cy Hilterman l Book Reviews > Mysteries Thrillers l July 06, 2012 lViews: 278

"Look Me In The Eye, If You Dare!" Okay, all of You "Internet Millionaire Moguls," I want some answers, and I want them now.

By: Travis L Perkins l Book Reviews > Internet Marketing l June 29, 2012 lViews: 310

Crush it is a great "How to" book on using social media and being real with yourself on what you do. Gary is very passionate about what he does. The key to his success is blending who he is with what

By: Joe Mosed l Book Reviews > Internet Marketing l June 29, 2012 lViews: 547

My resolution this year was to knuckle down and do something to bring in some new clients for my practice, so I was pleased to see that Internet Marketing Bible for Accountants looked like it might

By: Karen K Jefferson l Book Reviews > Internet Marketing l June 29, 2012 lViews: 296

When promoting your business online, are you using internet marketing? If you have yet to spread your branches into the online world, you ought to consider doing so.

By: Joyce McNeill Christopher l Book Reviews > Internet Marketing l June 29, 2012 lViews: 282

When asked if I would do a book review on "Protecting your teen from the dangers of texting" I was curious about that exact topic as I have a teenager myself. Being a parent in the 21st century is

By: Jacqueline Ann Paulsonl Book Reviews > Current Affairsl May 03, 2012 lViews: 150

BBC correspondent John Simpson presents a set of observations and anecdotes drawn from a near lifetime of reporting for television news in A Mad World, My Masters. He covers much of recent history,

By: Philip Spiresl Book Reviews > Current Affairsl April 18, 2012 lViews: 195

A fascinating and engaging look into organized retail crime. Very eye opening, and a book that does a good job of letting readers know just what a big problem this is.

By: Alain Burresel Book Reviews > Current Affairsl February 25, 2012 lViews: 210

In politics, hubris abounds. It is truly amazing that politicians think they can keep secrets.

By: Geri Spielerl Book Reviews > Current Affairsl January 28, 2012 lViews: 202

Jeff Ashton, who served as lead prosecutor against another famous murder suspect-Casey Anthony-has written a no-holds-barred account of the trial that shocked Florida in "Imperfect Justice." In 2008,

By: Steven M Kingl Book Reviews > Current Affairsl December 11, 2011 lViews: 176

As signatory to the international Convention Against Torture, since 1988 under Reagan, the U.S. is obliged to prosecute torturers found in its own territory or extradite them to other countries for

By: John C Sticklerl Book Reviews > Current Affairsl November 02, 2011 lViews: 168

Discuss this Article

comments powered by Disqus