Manias, Panics and Crashes

1. Front Matter

   Pages i-xiii

   PDF

2. Financial Crisis: A Hardy Perennial

   • Charles P. Kindleberger, Peter L. Bernstein

   Pages 1-11

3. Anatomy of a Typical Crisis

   • Charles P. Kindleberger, Peter L. Bernstein

   Pages 13-22

4. Speculative Manias

   • Charles P. Kindleberger, Peter L. Bernstein

   Pages 23-47

5. Fueling the Flames: Monetary Expansion

   • Charles P. Kindleberger, Peter L. Bernstein

   Pages 49-71

6. The Emergence of Swindles

   • Charles P. Kindleberger, Peter L. Bernstein

   Pages 73-90

7. The Critical Stage

   • Charles P. Kindleberger, Peter L. Bernstein

   Pages 91-107

8. Domestic Contagion

   • Charles P. Kindleberger, Peter L. Bernstein

   Pages 109-116

9. International Contagion

   • Charles P. Kindleberger, Peter L. Bernstein

   Pages 117-137

10. Letting It Burn Out, and Other Devices

    • Charles P. Kindleberger, Peter L. Bernstein

    Pages 139-159

11. The Lender of Last Resort

    • Charles P. Kindleberger, Peter L. Bernstein

    Pages 161-178

12. The International Lender of Last Resort

    • Charles P. Kindleberger, Peter L. Bernstein

    Pages 179-206

13. Conclusion: The Lessons of History

    • Charles P. Kindleberger, Peter L. Bernstein

    Pages 207-215

14. The Lessons of History and the Most Tumultuous Decades Ever

    • Charles P. Kindleberger, Robert Z. Aliber

    Pages 239-255

15. Back Matter

    Pages 217-290

    PDF

Manias, Panics and Crashes was first published in 1978, and dealt with financial crises that were, for the most part, before World War II. Black Monday of October 1987, along with more research especially on the years from 1880 to 1893 indicated a need for a second look. The third edition had its stimulus in the Japanese crash of January 1990, the effects of which carried through to decade. This new fourth edition covers the striking troubles of Mexico in 1994-95 and East Asia in 1997-98.

• Asia
• crisis
• East Asia
• Expansion
• financial crisis
• research

'Charles Kindleberger has written, with great polish and style, an analysis of the stages of financial crises over the last two and a half centuries.' - Patrick Minford, Economic Journal

'Manias, Panics and Crashes is a scholarly account for the way that mismanagement of money and credit has led to financial explosions over the centuries.' - Richard Lambert, Financial Times

'Professor Kindleberger has the welcome gifts of carrying lightly an immense weight of learning and of always using his imagination in deciding how to deploy it. These gifts are as evident as ever in his latest book.' - W.Ashworth, Economic History Review

CHARLES P. KINDLEBERGER, after serving in Central Banking, the military and government from 1936 to 1948, taught economics at the Massachusetts Institute of Technology, specializing in international economic and European Economic history. He retired in 1981 as Ford International Professor of Economics, Emeritus. Among his many books are The World Depression, 1929-39 and the Financial History of Western Europe. His most recent work is World Economic Primacy, 1500-1990, published in 1996.