This Time Is Different: Eight Centuries of Financial Folly

Book Details

• Author: Carmen M. Reinhart & Kenneth S. Rogoff

• Publisher: Princeton University Press

• Edition: Reprint

• ISBN: 9780691142166

• Pages: 512

• Cover: Paperback

• Dimensions: 8.3 x 5.5 x 1.3 inches

About the Book

"This Time Is Different: Eight Centuries of Financial Folly" is an acclaimed study of financial crises by economists Carmen Reinhart and Kenneth Rogoff. Drawing on a vast range of historical data from sixty-six countries over eight centuries, the authors dissect the causes, consequences, and patterns of financial crises, from government defaults and banking panics to inflationary spikes.

Through the book, Reinhart and Rogoff challenge the commonly held belief that each financial crisis is unique. They prove, through a comprehensive historical analysis, that financial crises are recurrent events that follow similar patterns across time and geography. They argue that despite claims of "this time being different," history shows that financial combustions are a universal experience for both emerging and established economies.

The book delves into the financial follies of the past, providing a detailed look at historical events like medieval currency debasements, the Great Depression, and the 2008 subprime mortgage crisis. "This Time Is Different" has become a landmark work, influencing the way we think about financial crises and shaping economic policies for years to come.

Review Highlights:

• "A remarkable history of financial folly" — New York Times

• "This book will influence financial and economic thinking and policy for decades to come" — Acclaimed for its groundbreaking approach