Anatomy of a Typical Crisis

Charles P. Kindleberger and Peter L. Bernstein

Chapter 2 in Manias, Panics and Crashes, 2000, pp 13-22 from Palgrave Macmillan

Abstract: Abstract For historians each event is unique. Economics, however, maintains that forces in society and nature behave in repetitive ways. History is particular; economics is general. In the chapters that follow, we shall set out various phases of speculative manias leading to crisis and collapse, with a wealth of historical explanation. In this chapter we are interested in the underlying economic model of a general financial crisis.

Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-53675-3_2

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DOI: 10.1057/9780230536753_2

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