Books matching: financial crises
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A sweeping, deeply researched account of the global fallout from 2008 - stimulating for policy geeks and history buffs, but a bit dense for casual readers. Essential if you want to understand the last decade of crisis and change.
'Crashed: How a Decade of Financial Crises Changed the World' by Adam Tooze is a meticulously detailed economic analysis that delves into the heart of the financial crises of the past decade. The author skillfully connects the dots between economic and political policies, shedding light on the global implications of the crises in the US, Europe, Eastern Europe, China, and Russia. Tooze's writing style is analytical yet masterful, providing a comprehensive view of the aftermath of the financial crisis and the interconnected events that shaped our contemporary economy.
On April 5, 2006, the youthful junior senator from Illinois, Barack Obama, took time out from discussion of an India nuclear deal on Capitol Hill to attend the opening of a new think tank project at B...August 2018•695 pages- #2
Save:A treasure trove of financial crisis data that shatters the myth of 'it’s different this time.' Deeply informative for macroeconomics fans, but its dryness and stats-first approach may turn off some casual readers.
'This Time Is Different: Eight Centuries of Financial Folly' by Carmen M. Reinhart and Kenneth Rogoff is a rigorous and exhaustive look at the history of financial crises throughout world history. It connects external sovereign debt to internal debt, emphasizing the impact of internal debt in debt crises. The authors argue that the run-up in sovereign debt during financial crises is mainly due to decreased tax receipts rather than bailouts. provides a detailed analysis of financial crises, highlighting the risks associated with debt accumulation and the common trigger events leading to historical meltdowns. It warns against the mistaken economic policies of the past and emphasizes the recurring nature of financial crises despite claims of uniqueness each time.
Because this book is grounded in a quantitative and historical analysis of crises, it is important to begin by defining exactly what constitutes a financial crisis, as well as the methods—quantitative...September 2009•494 pages A vivid, witty, and eye-opening read about the financial crisis - both a cautionary tale and a financial caper. Highly recommended for most, but best balanced with other perspectives if you want the whole story.
The Big Short by Michael Lewis delves into the intricate world of finance leading up to the 2008 financial crisis. Through compelling storytelling and rich character development, Lewis uncovers the individuals who foresaw the collapse of the subprime mortgage market and bet against the system. The book offers a detailed account of the events that unfolded, shedding light on the complexities of financial instruments like credit default swaps and collateralized debt obligations, all while maintaining a gripping narrative akin to a detective novel.
Eisman entered finance about the time I exited it. He’d grown up in New York City, gone to yeshiva schools, graduated from the University of Pennsylvania magna cum laude, and then with honors from Har...2009•310 pagesA captivating, essential read for anyone interested in the recurring madness of markets - while not exhaustive or completely up to date, its lessons (and warnings) remain timeless.
Edward Chancellor's book, 'Devil Take the Hindmost: A History of Financial Speculation', delves into the history of financial markets, exploring speculative bubbles, market crashes, and the impact of human greed and irrationality on financial systems. Chancellor provides a thorough examination of various speculative manias throughout history, from the Tulipomania of 1630 to the Japanese crisis of the 1980s, shedding light on the recurring patterns of financial excess and collapse. The book offers insights into the dangers of leveraging and the ethical implications of speculation, highlighting the volatile nature of financial markets and the risks associated with unchecked speculation.
Chancellor's writing style is described as dense but engaging, offering a comprehensive overview of financial speculation that is both informative and thought-provoking. Through a historical lens, the author navigates the complexities of speculative markets, drawing parallels between past and present financial crises to underscore the cyclical nature of market booms and busts. Readers are taken on a journey through the evolution of financial systems, from early examples of speculative behavior to modern-day derivatives and hedge funds, providing a cautionary tale about the perils of unchecked speculation and the importance of regulatory safeguards in maintaining market stability.
When I was young, people called me a gambler. As the scale of my operations increased I became known as a speculator. Now I am called a banker. But I have been doing the same thing all the time. Sir E...1996•397 pages- #5
Save:A witty, brisk, and insightful look at the madness of 1929 - a classic that remains relevant with every new financial boom and bust. Essential reading for anyone curious about why markets crash (again and again).
"The Great Crash 1929" by John Kenneth Galbraith delves into the catastrophic events surrounding the stock market crash of 1929 and the subsequent Great Depression. Through a detailed narrative, the author explores the causes, consequences, and intricacies of the financial collapse, drawing eerie parallels to modern-day economic crises. Galbraith's writing style is engaging and thought-provoking, offering a comprehensive analysis of the events leading up to the crash and the aftermath that followed. Readers are taken on a historical journey that sheds light on the complexities of financial markets and the societal impact of economic downturns.
ON DECEMBER 4, 1928, President Coolidge sent his last message on the state of the Union to the reconvening Congress. Even the most melancholy congressman must have found reassurance in his words. "No...1929•225 pages - #6
Save:"Manias, Panics and Crashes: A History of Financial Crises" by Robert Solow, Robert Z. Aliber, and Charles P. Kindleberger is a detailed exploration of financial crises throughout history. The writing style is narrative, not chronological, which presents the information in random bits and fits, making it an engaging but challenging read. offers a unique perspective on global economics, delving into the history and development of markets, financial instruments, and the tendencies of capitalism towards crises.
The years since the early 1970s are unprecedented in terms of the volatility in the prices of commodities, currencies, real estate, and stocks. There have been four waves of financial crises; a large...1978•391 pages A lively and approachable crash course in the history of money and finance - sometimes scattered, but always fascinating. Worth a read for anyone who wants to understand the financial world’s evolution, even if you’re not a Wall Street enthusiast.
'The Ascent of Money: A Financial History of the World' by Niall Ferguson is a detailed exploration of the history of finance, covering various financial events and crises throughout Western history. The book delves into the origins of financial institutions, the development of bonds, stocks, insurance, and modern investment methods, providing a valuable perspective on historical events. Ferguson's writing style aims to make complex financial concepts understandable for the general reader, although some readers found the book to be more focused on banking, events, and money transactions in the 1900s and early 2000s, particularly in the USA.
Ferguson's narrative weaves together the evolution of money and financial instruments from ancient times to the present day, highlighting the interconnectedness between financial decisions and major world events. The book touches on topics such as the role of imperialism in foreign investment, the benefits of well-operating financial markets, and the repetitive nature of financial mistakes throughout history. While some readers appreciated the historical insights and educational value of the book, others found it to be too focused on recent financial events and lacking a central thesis or comprehensive analysis.
Imagine a world with no money. For over a hundred years, Communists and anarchists - not to mention some extreme reactionaries, religious fundamentalists and hippies - have dreamt of just that. Accord...2007•478 pages- #8
Save:A steamy, angsty romance with lots of heart and big personalities - expect drama, a strong heroine, and a swoony, complicated hero. Loved by many for its intensity but not for everyone. Cliffhanger alert!
Skylar Ellen Crosby, a confident law student with a fiery personality, finds herself stranded in the home of Brandon Sterling, a successful CEO and attorney. Despite their differences in background and values, a complex love story unfolds between them, marked by past traumas and present struggles. The book explores themes of love, imperfections, past baggage, and the challenges of communication in relationships, set against a backdrop of luxury, power dynamics, and personal growth.
I step out of the subway stop on Park Avenue and Twenty-Third Street, my cell phone in hand. Looking straight up Park, I can see the elegant architecture of Grand Central Station; down the other dire...February 2017•458 pages A gripping, accessible, and eye-opening look at Wall Street hubris and the dangers of believing in your own genius. Perfect for anyone wanting financial drama with real-world stakes, but not a deep-dive textbook on quantitative finance.
"When Genius Failed: The Rise and Fall of Long-Term Capital Management" by Roger Lowenstein delves into the captivating story of the collapse of the arbitrage firm Long Term Capital Management in 1998. It provides a detailed account of how a group of highly intelligent individuals, including Nobel prize-winning economists, ran a hedge fund that seemed too smart to fail, but ultimately faced a billion-dollar downfall due to hubris, leverage, and lack of liquidity. Lowenstein's writing style is described as vivid, well-researched, and engaging, offering readers insights into the intricate world of finance and the personalities involved in the events surrounding LTCM.
IF THERE WAS one article of faith that John Meriwether discovered at Salomon Brothers, it was to ride your losses until they turned into gains. It is possible to pinpoint the moment of Meriwether’s re...September 2000•292 pagesA raw, eye-opening insider story that exposes the messy reality of modern politics and finance, though its intensity and one-sidedness might not work for everyone. Great if you want to understand power, debt, or the EU behind closed doors - but bring your patience for drama and detail.
'Adults in the Room: My Battle with Europe's Deep Establishment' by Yanis Varoufakis is a gripping account of the author's tenure as the finance Minister of Greece, delving into the intricate negotiations and power struggles with the European Central Bank, European Commission, and IMF during the country's economic crisis. Varoufakis exposes the duplicity and betrayal at the heart of the EU's treatment of Greece, shedding light on the political machinations that led to Greece's financial turmoil. Through a mix of personal experiences and financial analysis, the book unveils the harsh realities of austerity measures and the struggle for sovereignty in the face of international pressure.
By early 2010, some five years before I took office, the Greek state was bankrupt. A few months later the European Union, the International Monetary Fund and the Greek government organized the world’s...October 2017•561 pages
