This Time is Different: Eight Centuries of Financial Folly

  • 8h 55m 16s
  • Carmen Reinhart, Kenneth Rogoff
  • Gildan Media
  • 2011

Throughout history, rich and poor countries alike have been lending, borrowing, crashing--and recovering--their way through an extraordinary range of financial crises. Each time, the experts have chimed, "this time is different"--claiming that the old rules of valuation no longer apply and that the new situation bears little similarity to past disasters. This audio book proves that premise wrong. Covering sixty-six countries across five continents, This Time Is Different presents a comprehensive look at the varieties of financial crises, and guides us through eight astonishing centuries of government defaults, banking panics, and inflationary spikes--from medieval currency debasements to today's subprime catastrophe.

In this Audiobook

  • Chapter 1: Varieties of Crises and Their Dates
  • Chapter 2: Debt Intolerance: The Genesis of Serial Default
  • Chapter 3: A Global Database on Financial Crises with a Long-Term View
  • Chapter 4: A Digression on the Theoretical Underpinnings of Debt Crises
  • Chapter 5: Cycles of Sovereign Default on External Debt
  • Chapter 6: External Default through History
  • Chapter 7: The Stylized Facts of Domestic Debt and Default
  • Chapter 8: Domestic Debt: The Missing Link Explaining External Default and High Inflation
  • Chapter 9: Domestic and External Default: Which Is Worse? Who Is Senior?
  • Chapter 10: Banking Crises
  • Chapter 11: Default Through Debasement: An “Old World” Favorite
  • Chapter 12: Inflation and Modern Currency Crashes
  • Chapter 13: The U.S. Subprime Crisis: An International and Historical Comparison
  • Chapter 14: The Aftermath of Financial Crises
  • Chapter 15: The International Dimensions of the Subprime Crisis: The Results of Contagion Or Common Fundamentals?
  • Chapter 16: Composite Measures of Financial Turmoil
  • Chapter 17: Reflections on Early Warnings, Graduation, Policy Responses, and the Foibles of Human Nature