{"product_id":"this-time-is-different-eight-centuries-of-financial-folly-paperback","title":"This Time Is Different: Eight Centuries of Financial Folly - Paperback","description":"\u003cdiv\u003e\u003cp style=\"text-align: right;\"\u003e\u003ca href=\"https:\/\/reportcopyrightinfringement.com\/\" target=\"_blank\" rel=\"nofollow\"\u003e\u003cb\u003eReport copyright infringement\u003c\/b\u003e\u003c\/a\u003e\u003c\/p\u003e\u003c\/div\u003e\u003cp\u003eby \u003cb\u003eCarmen M. Reinhart\u003c\/b\u003e (Author), \u003cb\u003eKenneth S. Rogoff\u003c\/b\u003e (Author)\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003eA comprehensive look at international financial crises that puts more recent economic meltdowns into perspective\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003eThroughout history, rich and poor countries alike have been lending, borrowing, crashing--and recovering--their 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 sixty-six countries across five continents, \u003ci\u003eThis Time Is Different\u003c\/i\u003e presents a comprehensive look at the varieties of financial crises, and guides us through eight astonishing centuries of government defaults, banking panics, and inflationary spikes--from 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 much--or how little--we have learned. \u003cp\u003e\u003c\/p\u003eUsing 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 debts--as 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. \u003cp\u003e\u003c\/p\u003eAn important book that will affect policy discussions for a long time to come, \u003ci\u003eThis Time Is Different\u003c\/i\u003e exposes centuries of financial missteps.\u003ch3\u003eBack Jacket\u003c\/h3\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\"\u003ci\u003eThis Time Is Different\u003c\/i\u003e is a tremendously exciting, topical, and controversial book on the history of debt and default. This one belongs on everyone's shelf.\"\u003cb\u003e--Barry Eichengreen, author of \u003ci\u003eThe European Economy since 1945\u003c\/i\u003e\u003c\/b\u003e\u003c\/p\u003e\u003cp\u003e\"This is quite simply the best empirical investigation of financial crises ever published. Covering hundreds of years and bringing together a dizzying array of data, Reinhart and Rogoff have made a truly heroic contribution to financial history. This single marvelous volume is worth a thousand mathematical models.\"\u003cb\u003e--Niall Ferguson, author of \u003ci\u003eThe Ascent of Money: A Financial History of the World\u003c\/i\u003e\u003c\/b\u003e\u003c\/p\u003e\u003cp\u003e\"\u003ci\u003eThis Time is Different\u003c\/i\u003e is terrific, for it gives just the perspective we need on the current world economic crisis. People can't expect to understand the current crisis without some in-depth look at past crises. That is exactly what this excellent and timely book provides.\"\u003cb\u003e--Robert J. Shiller, author of \u003ci\u003eIrrational Exuberance\u003c\/i\u003e and coauthor of \u003ci\u003eAnimal Spirits\u003c\/i\u003e\u003c\/b\u003e\u003c\/p\u003e\u003cp\u003e\"You will be hard-pressed to find a more comprehensive and insightful analysis of financial crises. Reinhart and Rogoff's superb book is a must-read for anyone looking to understand past and present crises, as well as navigate those of tomorrow.\"\u003cb\u003e--Mohamed El-Erian, author of \u003ci\u003eWhen Markets Collide\u003c\/i\u003e\u003c\/b\u003e\u003c\/p\u003e\u003cp\u003e\"I would say that her [Carmen Reinhart's] book with Ken Rogoff on debt crises and financial crises is an extraordinary piece of work.\"\u003cb\u003e--Federal Reserve Chairman Ben Bernanke, speaking before the House Budget Committee (6\/9\/2010)\u003c\/b\u003e\u003c\/p\u003e\u003cp\u003e\"The most important authorities probably in the world now on financial crashes are Kenneth Rogoff and Carmen Reinhart. . . . And I read it [\u003ci\u003eThis Time is Different\u003c\/i\u003e].\"\u003cb\u003e--Former President Bill Clinton, speech at Youngstown, OH, October 31, 2012\u003c\/b\u003e\u003c\/p\u003e\u003cp\u003e\"A classic.\"\u003cb\u003e--Nouriel Roubini\u003c\/b\u003e\u003c\/p\u003e\u003ch3\u003eAuthor Biography\u003c\/h3\u003e\u003cp\u003e\u003cb\u003eCarmen M. Reinhart\u003c\/b\u003e is currently vice president and chief economist at the World Bank. She is the Minos A. Zombanakis Professor of the International Financial System at the Harvard Kennedy School. \u003cb\u003eKenneth S. Rogoff\u003c\/b\u003e is the Thomas D. Cabot Professor of Public Policy and professor of economics at Harvard University. He is a frequent commentator for \u003ci\u003eNPR\u003c\/i\u003e, the \u003ci\u003eWall Street Journal\u003c\/i\u003e, and the \u003ci\u003eFinancial Times\u003c\/i\u003e.\u003c\/p\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eNumber of Pages:\u003c\/strong\u003e 512\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eDimensions:\u003c\/strong\u003e 1.4 x 8.54 x 5.47 IN\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eIllustrated:\u003c\/strong\u003e Yes\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003ePublication Date:\u003c\/strong\u003e August 07, 2011\u003c\/div\u003e\n            ","brand":"BooksCloud","offers":[{"title":"Default Title","offer_id":52478191305011,"sku":"9780691152646","price":30.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0300\/5595\/6612\/files\/S2JMampBQnR5bFZ6V1p5Nnh6UjRNUT09.webp?v=1759636739","url":"https:\/\/www.vysn.com\/products\/this-time-is-different-eight-centuries-of-financial-folly-paperback","provider":"VYSN","version":"1.0","type":"link"}