This is the "History" page of the "Financial Crisis" guide.
Alternate Page for Screenreader Users
Skip to Page Navigation
Skip to Page Content

Financial Crisis  

Last Updated: Oct 6, 2017 URL: http://libguides.udmercy.edu/content.php?pid=632905 Print Guide RSS UpdatesEmail Alerts

History Print Page
  Search: 
 
 
 

Books

Cover Art
A Nation of Deadbeats: An Uncommon History of America's Financial Disasters - Nelson, Scott Reynolds
Call Number: HB 3743 .N45 2012
ISBN: 9780307272690
Publication Date: 2012
The story of America is a story of dreamers and defaulters. nbsp;It is also a story of dramatic financial panics that defined the nation, created its political parties, and forced tens of thousands to escape their creditors to new towns in Texas, Florida, and California.nbsp; As far back as 1792, these panics boiled down to one simple question: Would Americans pay their debts--or were we just a nation of deadbeats? From the merchant William Duer's attempts to speculate on post-Revolutionary War debt, to an ill-conceived 1815 plan to sell English coats to Americans on credit, to the debt-fueled railroad expansion that precipitated the Panic of 1857, Scott Reynolds Nelson offers a crash course in America's worst financial disasters--and a concise explanation of the first principles that caused them all. Nelson shows how consumer debt, both at the highest levels of finance and in the everyday lives of citizens, has time and again left us unable to make good. The problem always starts with the chain of banks, brokers, moneylenders, and insurance companies that separate borrowers and lenders. nbsp;At a certain point lenders cannot tell good loans from bad--and when chits are called in, lenders frantically try to unload the debts, hide from their own creditors, go into bankruptcy, and lobby state and federal institutions for relief. With a historian's keen observations and a storyteller's nose for character and incident, Nelson captures the entire sweep of America's financial history in all its utter irrationality: national banks funded by smugglers; fistfights in Congress over the gold standard; and presidential campaigns forged in stinging controversies on the subject of private debt. A Nation of Deadbeats is a fresh, irreverent look at Americans' addiction to debt and how it has made us what we are today.nbsp;

Cover Art
Boom and Bust: Financial Cycles and Human Prosperity - Pollock, Alex J.
ISBN: 9780844743844
Publication Date: 2010
While the recent economic crisis was a painful period for many Americans, the panic surrounding the downturn was fueled by an incomplete understanding of economic history. Economic hysteria made for riveting journalism and effective political theater, but the politicians and members of the media who declared that America was in the midst of the greatest financial calamity since the Great Depression were as wrong and misguided as the expansionists of the Roosevelt era. In reality the cyclical nature of market economies is as old as the markets themselves. In a free market system, financial downturns inevitably accompany economic prosperity-but the overall trend is upward progress in living standards and national wealth. While it is helpful to understand what caused the recent crisis, the more important questions to consider are 'What makes the 'boom and bust' cycle so predictable?' and 'What are the ethical responsibilities of the citizens of a free market economy?' In Boom and Bust: Financial Cycles and Human Prosperity, Alex J. Pollock argues that while economic downturns can be frightening and difficult, people living in free market economies enjoy greater health, better access to basic necessities, better education, work less arduous jobs, and have more choices and wider horizons than people at any other point in history. This wonderful reality would not exist in the absence of financial cycles. This book explains why.

Cover Art
Why Stock Markets Crash: Critical Events in Complex Financial Systems - Sornette, Didier
Call Number: HB 3722 .S66 2003
ISBN: 0691096309
Publication Date: 2002
The scientific study of complex systems has transformed a wide range of disciplines in recent years, enabling researchers in both the natural and social sciences to model and predict phenomena as diverse as earthquakes, global warming, demographic patterns, financial crises, and the failure of materials. In this book, Didier Sornette boldly applies his varied experience in these areas to propose a simple, powerful, and general theory of how, why, and when stock markets crash. Most attempts to explain market failures seek to pinpoint triggering mechanisms that occur hours, days, or weeks before the collapse. Sornette proposes a radically different view: the underlying cause can be sought months and even years before the abrupt, catastrophic event in the build-up of cooperative speculation, which often translates into an accelerating rise of the market price, otherwise known as a "bubble." Anchoring his sophisticated, step-by-step analysis in leading-edge physical and statistical modeling techniques, he unearths remarkable insights and some predictions--among them, that the "end of the growth era" will occur around 2050. Sornette probes major historical precedents, from the decades-long "tulip mania" in the Netherlands that wilted suddenly in 1637 to the South Sea Bubble that ended with the first huge market crash in England in 1720, to the Great Crash of October 1929 and Black Monday in 1987, to cite just a few. He concludes that most explanations other than cooperative self-organization fail to account for the subtle bubbles by which the markets lay the groundwork for catastrophe. Any investor or investment professional who seeks a genuine understanding of looming financial disasters should read this book. Physicists, geologists, biologists, economists, and others will welcome Why Stock Markets Crash as a highly original "scientific tale," as Sornette aptly puts it, of the exciting and sometimes fearsome--but no longer quite so unfathomable--world of stock markets.

Cover Art
Why Stock Markets Crash: Critical Events in Complex Fiancial Sytems - Sornette, Didier
ISBN: 9781400829552
Publication Date: 2009
The scientific study of complex systems has transformed a wide range of disciplines in recent years, enabling researchers in both the natural and social sciences to model and predict phenomena as diverse as earthquakes, global warming, demographic patterns, financial crises, and the failure of materials. In this book, Didier Sornette boldly applies his varied experience in these areas to propose a simple, powerful, and general theory of how, why, and when stock markets crash. Most attempts to explain market failures seek to pinpoint triggering mechanisms that occur hours, days, or weeks before the collapse. Sornette proposes a radically different view: the underlying cause can be sought months and even years before the abrupt, catastrophic event in the build-up of cooperative speculation, which often translates into an accelerating rise of the market price, otherwise known as a "bubble." Anchoring his sophisticated, step-by-step analysis in leading-edge physical and statistical modeling techniques, he unearths remarkable insights and some predictions--among them, that the "end of the growth era" will occur around 2050. Sornette probes major historical precedents, from the decades-long "tulip mania" in the Netherlands that wilted suddenly in 1637 to the South Sea Bubble that ended with the first huge market crash in England in 1720, to the Great Crash of October 1929 and Black Monday in 1987, to cite just a few. He concludes that most explanations other than cooperative self-organization fail to account for the subtle bubbles by which the markets lay the groundwork for catastrophe. Any investor or investment professional who seeks a genuine understanding of looming financial disasters should read this book. Physicists, geologists, biologists, economists, and others will welcome Why Stock Markets Crash as a highly original "scientific tale," as Sornette aptly puts it, of the exciting and sometimes fearsome--but no longer quite so unfathomable--world of stock markets.

Cover Art
The Handbook of the Political Economy of Financial Crises - Wolfson, Martin H.; Epstein, Gerald A.; (Eds.)
Call Number: HB 3717 2008 .H36 2013
ISBN: 9780199757237
Publication Date: 2013
The Great Financial Crisis that began in 2007-2008 reminds us with devastating force that financial instability and crises are endemic to capitalist economies that lack powerful and dynamically changing financial regulations that can keep the powerful forces of leverage and credit withinsustainable bounds. Economists from Marx to Keynes, and Minsky to Kindleberger have well understood this profoundly important fact, yet the dominant mainstream economics of "rational expectations", "efficient markets" and "laissez-faire" that rationalized widespread financial liberalization andstill dominates the economics profession has gotten it, literally, "dead wrong". This Handbook of The Political Economy of Financial Crises describes the theoretical, institutional, and historical factors that can help us understand the forces that create financial crises - with an emphasis on the crisis of 2007- 2008 - and the strengths and weaknesses of varying theoreticalperspectives and policy approaches that have tried to comprehend and limit these financial tsunamis.

Cover Art
Manias, Panics and Crashes: A History of Financial Crisis - Kindleberger, Charles P.
Call Number: HB 3722 .K56 2011
ISBN: 9780230575974
Publication Date: 2011
Manias, Panics and Crashes, is anbsp;vivid and entertaining account of the way that mismanagement of money and credit has led to financial explosions over the centuries. Covering such topics as the history and anatomy of crises, speculative manias, and the lender of last resort, this book has been hailed as 'a true classic...both timely and timeless.' In this new, updated fifth edition, Kindleberger and Aliber expand upon the ideas presented in the previous edition, and include two new chapters on the real estate price bubble that occurred in Norway, Sweden and Finland at the end of the 1980s, and the three asset price bubbles that occurred between 1985 and 2000 in Japan and other Asian countries. Selected as one of the best investment books of all time by the Financial Times, Manias, Panics and Crashes puts the turbulence of the financial world in perspective.

Cover Art
Recessions and Depressions: Understanding Business Cycles - Knoop, Todd A.
Call Number: HB 3711 .K63 2010
ISBN: 9780313381638
Publication Date: 2009
Why study business cycles? -- Describing business cycles -- Early business cycle theories -- Keynes's and Keynesian theory -- The monetarist model -- The rational expectations model -- Real business cycle models -- New Keynesian models -- Models of credit and financial instability -- Macroeconomic forecasting -- The great depression -- Postwar business cycles in the United States -- The East Asian crisis and the IMF -- The great recession in Japan -- The 2007 global financial crisis -- Conclusions--what we know and do not know about business cycles.

Cover Art
Beating the Bear: Lessons from the 1929 Crash Applied to Today's World - Bierman, Harold
Call Number: HB 3717 1929 .B387 2010
ISBN: 9780313382147
Publication Date: 2010
This book offers an examination of the empirical data of business cycles, the theories that economists have developed to explain them, and major case studies of recessions and depressions both in the United States and internationally. Book jacket.

Cover Art
Panic!: The Story of Modern Financial Insanity - Lewis, Michael
Call Number: HB 3722 .P36 2009
ISBN: 9780393065145
Publication Date: 2008
When it comes to markets, the first deadly sin is greed. Michael Lewis is our jungle guide through five of the most violent and costly upheavals in recent financial history: the crash of '87, the Russian default (and the subsequent collapse of Long-Term Capital Management), the Asian currency crisis of 1999, the Internet bubble, and the current sub-prime mortgage disaster. With his trademark humor and brilliant anecdotes, Lewis paints the mood and market factors leading up to each event, weaves contemporary accounts to show what people thought was happening at the time, and then, with the luxury of hindsight, analyzes what actually happened and what we should have learned from experience.As he proved in Liar's Poker, The New New Thing, and Moneyball, Lewis is without peer in his understanding of market forces and human foibles. He is also, arguably, the funniest serious writer in America.

Subject Guide

Profile Image
George Libbey
 
Description

Loading  Loading...

Tip