A Great Deal of Ruin
Financial Crises since 1929

Illustrated with historical analysis, case studies, and accessible economic concepts, this book explains what financial crises are, how they are caused and what we can learn from them.

James Gerber (Author)

9781108739900, Cambridge University Press

Paperback / softback, published 22 August 2019

348 pages
22.8 x 15.2 x 1.9 cm, 0.48 kg

'It is a terrific book.' Erik Jones, Survival

A Great Deal of Ruin provides an accessible introduction to the enduring problem of financial crises. Illustrated with historical analysis, case studies, and clear economic concepts, this book explains in three parts what financial crises are, how they are caused and what we can learn from them. It begins with a taxonomy of crises and a list of factors that increase the risk for countries experiencing a financial crisis. It then examines five of the most important crises in modern economic history, beginning with the Great Depression and ending with the subprime crisis in the United States and its evolution into a debt crisis in the Eurozone. The book concludes with a set of lessons that can be learnt from the crises of the past. It will appeal to university students as well as general readers who are curious to learn more about the recent subprime crisis and other financial crises.

Introduction
Part I. Financial Crises: 1. Financial crises: categories and risk factors
2. Growth, globalization, and financial crises
Part II. Five Case Studies: 3. The Great Depression, 1929–1939
4. The Latin American Debt Crisis, 1982–1989
5. The Asian Crisis, 1997–1999
6. The Subprime Crisis in the United States
7. The financial crisis in Europe
Part III. Lessons: 8. Markets do not self-regulate
9. Shadow banks are banks
10. Banks need more capital, less debt
11. Monetary policy does not always work
12. Fiscal multipliers are larger than expected
13. Monetary integration requires fiscal integration
14. Open capital markets can be dangerous
15. Not all debt is created equal
Conclusion.

Subject Areas: Finance [KFF], Economic history [KCZ], Economic & financial crises & disasters [KCX], Macroeconomics [KCB], Economics [KC]