This Time Is Different: Eight Centuries of Financial Folly
by Carmen M. Reinhart, Kenneth S. Rogoff
Drawing on eight centuries of financial history, This Time Is Different explores recurring cycles of banking crises, sovereign defaults, and debt. Carmen M. Reinhart and Kenneth S. Rogoff examine why societies repeatedly believe that their current circumstances are unique—and why that confidence can precede another episode of financial turmoil.
About This Book
This Time Is Different examines financial crises across eight centuries of economic history.
Carmen M. Reinhart and Kenneth S. Rogoff explore recurring patterns in banking, borrowing, sovereign debt, and financial instability.
The book considers why governments, institutions, and investors repeatedly underestimate the risks of excessive confidence and debt.
Its broad historical perspective invites readers to compare past crises with the financial challenges of the present.
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