Why Financial Crises And Crashes Happen
The world seems awash in financial crises. The Asian crisis of 1998, the near-demise of Long Term Capital Management, and the black hole of Russia are just a few of the most recent. Are they the result of greedy speculators, crony capitalism, or the warp speed of the forces of globalisation? Can we send in the repairman and get things fixed through the legal and regulatory systems? Or are other causes at work that may be beyond our control?
Through adroit analysis of both historical and contemporary events and their leading players, this book lends new insights into the causes of financial turmoil. It:
- explores the eternal cycle of financial crises
- explains the shift of financial power from Britain to across the Atlantic
- examines the technological, economic, demographic, and industrial experiences of the 1980s and 1990s
- shows how the boom-and-bust cycle in early American history illuminates recent global events
- explains that globalisation is nothing new
- looks at contemporary financial geniuses.
