Title
This Time Is Different: Eight Centuries of Financial Folly,Used
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A comprehensive look at international financial crises that puts more recent economic meltdowns into perspectiveThroughout history, rich and poor countries alike have been lending, borrowing, crashingand recoveringtheir way through an extraordinary range of financial crises. Each time, the experts have chimed, 'this time is different'claiming that the old rules of valuation no longer apply and that the new situation bears little similarity to past disasters. With this breakthrough study, leading economists Carmen Reinhart and Kenneth Rogoff definitively prove them wrong. Covering sixtysix countries across five continents, This Time Is Different presents a comprehensive look at the varieties of financial crises, and guides us through eight astonishing centuries of government defaults, banking panics, and inflationary spikesfrom medieval currency debasements to today's subprime catastrophe. Carmen Reinhart and Kenneth Rogoff, leading economists whose work has been influential in the policy debate concerning the current financial crisis, provocatively argue that financial combustions are universal rites of passage for emerging and established market nations. The authors draw important lessons from history to show us how muchor how littlewe have learned.Using clear, sharp analysis and comprehensive data, Reinhart and Rogoff document that financial fallouts occur in clusters and strike with surprisingly consistent frequency, duration, and ferocity. They examine the patterns of currency crashes, high and hyperinflation, and government defaults on international and domestic debtsas well as the cycles in housing and equity prices, capital flows, unemployment, and government revenues around these crises. While countries do weather their financial storms, Reinhart and Rogoff prove that short memories make it all too easy for crises to recur.An important book that will affect policy discussions for a long time to come, This Time Is Different exposes centuries of financial missteps.
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- Q: What is the page count of 'This Time Is Different'? A: The book has five hundred twelve pages. It provides a comprehensive exploration of financial crises across history.
- Q: What are the dimensions of this book? A: The book measures six and a half inches in length, one and three-quarters inches in width, and nine and a quarter inches in height. This size is standard for hardcover books.
- Q: What type of binding does 'This Time Is Different' have? A: The book is bound in hardcover. This type of binding offers durability and a premium feel.
- Q: Who are the authors of 'This Time Is Different'? A: The authors are Carmen Reinhart and Kenneth Rogoff. They are renowned economists known for their work on financial crises.
- Q: What is the main theme of 'This Time Is Different'? A: The book explores the patterns of financial crises throughout history. It emphasizes that financial disasters are common across nations.
- Q: Is 'This Time Is Different' suitable for beginners in economics? A: Yes, the book is accessible for beginners. It presents complex concepts in a clear and engaging manner.
- Q: Can I read 'This Time Is Different' if I have no prior knowledge of economics? A: Yes, it's suitable for readers without a background in economics. The authors explain concepts in an easy-to-understand way.
- Q: What kind of insights does 'This Time Is Different' provide? A: The book offers insights into the recurring nature of financial crises. It draws lessons from historical data across multiple countries.
- Q: How should I care for this hardcover book? A: To care for the book, store it upright in a dry place. Avoid exposure to direct sunlight to prevent fading.
- Q: Is 'This Time Is Different' a good gift for someone interested in finance? A: Yes, it makes an excellent gift for finance enthusiasts. The book provides valuable historical insights and lessons.
- Q: What if 'This Time Is Different' arrives damaged? A: If the book arrives damaged, you can return it for a replacement. Check the retailer's return policy for specific instructions.
- Q: Does 'This Time Is Different' provide case studies of specific financial crises? A: Yes, the book includes various case studies of financial crises. It analyzes different countries and their economic recoveries.
- Q: Are there any illustrations or charts in 'This Time Is Different'? A: Yes, the book contains charts and graphs. These visual aids help illustrate the economic data discussed.
- Q: What is the genre of 'This Time Is Different'? A: The genre is economic history. It specifically focuses on financial crises and their impacts over centuries.
- Q: Is there a specific audience that should read 'This Time Is Different'? A: The book is suitable for policymakers, students, and general readers interested in economics. It's relevant for anyone wanting to understand financial patterns.