In the Eighth Edition of this classic text on the financial history of bubbles and crashes
Robert McCauley joins with Robert Aliber in building on Charles Kindleberger's renowned work.
McCauley draws on his central banking experience to introduce new chapters on cryptocurrency
and the United States as the 21st Century global lender of last resort. He also updates the
book's coverage of the recent property bubble in China as well as providing new perspectives
on the US housing bubble of 2003-2006 and the Japanese bubble of the late 1980s. And he gives
new attention to the social psychology that leads people to take the risk of investing in Ponzi
schemes and asset price bubbles. For the first time in this revised and updated edition
figures highlight key points to ensure that today's generation of finance and economic
researchers students practitioners and policy-makers-as well as investors looking to avoid
crashes-have access to this panoramic history of financial crisis.
