Manias, Panics, and Crashes

Archival Summary & Scope

Robert McCauley joins Robert Aliber in updating this eighth edition of the classic financial history begun by Charles Kindleberger. Leveraging his central banking experience, McCauley introduces new chapters on cryptocurrency and the U.S. as 21st-century global lender of last resort. This edition provides updated analyses of the US housing (2003-2006), Japanese (late 1980s), and recent Chinese property bubbles, alongside new attention to the social psychology behind asset bubbles and Ponzi schemes. New figures highlight key points for the first time. An indispensable panoramic history for finance professionals, students, policymakers, and investors seeking to navigate and avoid future crises.