Manias, Panics, and Crashes: A History of Financial Crisis by R. Aliber, C. Kindleberger & R. McCaul

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Manias, Panics, and Crashes: Unraveling the History of Financial Crises

In this deep dive, we explore centuries of financial crises through the lens of the seminal book 'Manias, Panics, and Crashes' by Aliber, Kielburger, and McCall. Covering everything from the 1600s Tulip Mania to the 2008 Great Recession and recent crypto upheavals, we dissect recurring patterns like speculative excess, credit expansion, and human psychology. Discover the nuanced impacts of greed, trust, and policy responses, and consider whether these cycles are an inescapable part of human nature. Join us for a comprehensive look at why financial crises keep happening and what, if anything, can be done to manage them.

00:00 Introduction to Financial Crises
01:05 Historical Patterns of Crises
02:17 The Role of Credit in Financial Manias
07:38 The Distress and Crash Phases
09:00 Human Nature and Financial Fraud
12:00 Policy Responses to Crises
13:41 Global Dimensions of Financial Crises
18:05 Recent Manias: Crypto and Chinese Housing
20:22 Conclusion: Lessons from Financial History