Financial Crisis: A Hardy Perennial

Charles P. Kindleberger and Peter L. Bernstein

Chapter 1 in Manias, Panics and Crashes, 2000, pp 1-11 from Palgrave Macmillan

Abstract: Abstract There is hardly a more conventional subject in economic literature than financial crises. If few books on the subject appeared during the several decades after World War II, following the spate of the 1930s, it was because the industry of producing them is anticyclical in character, and recessions from 1945 to 1973 were few, far between, and exceptionally mild. More recently, with the worldwide recession of 1974–75 and the nervous financial tension of the 1980s and 1990s, the industry has picked up. When it first appeared in 1978, this work thus reflected a revived interest in an old theme, a theme that became increasingly salient in the decades that followed.

Date: 2000
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DOI: 10.1057/9780230536753_1

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