A Brief History of Doom

Two Hundred Years of Financial Crises

Business & Finance, Economics, Economic History, Nonfiction, History, World History
Cover of the book A Brief History of Doom by Richard Vague, University of Pennsylvania Press, Inc.
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Richard Vague ISBN: 9780812296617
Publisher: University of Pennsylvania Press, Inc. Publication: March 25, 2019
Imprint: University of Pennsylvania Press Language: English
Author: Richard Vague
ISBN: 9780812296617
Publisher: University of Pennsylvania Press, Inc.
Publication: March 25, 2019
Imprint: University of Pennsylvania Press
Language: English

Financial crises happen time and again in post-industrial economies—and they are extraordinarily damaging. Building on insights gleaned from many years of work in the banking industry and drawing on a vast trove of data, Richard Vague argues that such crises follow a pattern that makes them both predictable and avoidable.

A Brief History of Doom examines a series of major crises over the past 200 years in the United States, Great Britain, Germany, France, Japan, and China—including the Great Depression and the economic meltdown of 2008. Vague demonstrates that the over-accumulation of private debt does a better job than any other variable of explaining and predicting financial crises. In a series of clear and gripping chapters, he shows that in each case the rapid growth of loans produced widespread overcapacity, which then led to the spread of bad loans and bank failures. This cycle, according to Vague, is the essence of financial crises and the script they invariably follow.

The story of financial crisis is fundamentally the story of private debt and runaway lending. Convinced that we have it within our power to break the cycle, Vague provides the tools to enable politicians, bankers, and private citizens to recognize and respond to the danger signs before it begins again.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Financial crises happen time and again in post-industrial economies—and they are extraordinarily damaging. Building on insights gleaned from many years of work in the banking industry and drawing on a vast trove of data, Richard Vague argues that such crises follow a pattern that makes them both predictable and avoidable.

A Brief History of Doom examines a series of major crises over the past 200 years in the United States, Great Britain, Germany, France, Japan, and China—including the Great Depression and the economic meltdown of 2008. Vague demonstrates that the over-accumulation of private debt does a better job than any other variable of explaining and predicting financial crises. In a series of clear and gripping chapters, he shows that in each case the rapid growth of loans produced widespread overcapacity, which then led to the spread of bad loans and bank failures. This cycle, according to Vague, is the essence of financial crises and the script they invariably follow.

The story of financial crisis is fundamentally the story of private debt and runaway lending. Convinced that we have it within our power to break the cycle, Vague provides the tools to enable politicians, bankers, and private citizens to recognize and respond to the danger signs before it begins again.

More books from University of Pennsylvania Press, Inc.

Cover of the book Homeless by Richard Vague
Cover of the book The Birth of Orientalism by Richard Vague
Cover of the book Fallen Bodies by Richard Vague
Cover of the book The Markets for Force by Richard Vague
Cover of the book John Woolman's Path to the Peaceable Kingdom by Richard Vague
Cover of the book Religious Freedom and Mass Conversion in India by Richard Vague
Cover of the book The Late Byzantine Army by Richard Vague
Cover of the book History of the University of Pennsylvania, 1740-1940 by Richard Vague
Cover of the book Early Modern Cultures of Translation by Richard Vague
Cover of the book Spaces in Translation by Richard Vague
Cover of the book The Jewish Enlightenment by Richard Vague
Cover of the book Reconquest and Crusade in Medieval Spain by Richard Vague
Cover of the book Machiavelli's Legacy by Richard Vague
Cover of the book Modern Coliseum by Richard Vague
Cover of the book From Human Trafficking to Human Rights by Richard Vague
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy