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This Time Is Different: Eight Centuries of Financial Folly Best Read || [Carmen M. Reinhart Kenneth S. Rogoff]
Jul 27, 2021 - 14:09 PM By Carmen M. Reinhart Kenneth S. Rogoff

This Time Is Different: Eight Centuries of Financial Folly Best Read || [Carmen M. Reinhart Kenneth S. Rogoff] - This Time Is Different: Eight Centuries of Financial Folly, This Time Is Different Eight Centuries of Financial Folly 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
  • Title: This Time Is Different: Eight Centuries of Financial Folly
  • Author: Carmen M. Reinhart Kenneth S. Rogoff
  • ISBN: 9780691152646
  • Page: 322
  • Format: Paperback

Comments

Whitaker Jul 27, 2021 - 14:09 PM
OMFG This was originally four stars I was super impressed by the fact that their conclusions were supported by data underlying the research Guess what That was NOT the case When they finally agreed to release their data sets and other economists tried to replicate their results with their data, they found the following We replicate Reinhart and Rogoff and find that coding errors, selective exclusion of available data, and unconventional weighting of summary statistics lead to serious errors that [...]
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Jason Jul 27, 2021 - 14:09 PM
This book s an A graduate paper glorified into 400 pages It has impressive academic rigor, an appendices reference list as long as the body, and charts galore Unfortunately it s written as blandly as Ben Stein speaks I was jazzed to find this at the library, but let down.Mercifully, in the preface the authors tell us that the book is organized so you can skip to the last 4 chapters if you re interested only with The Second Great Contraction which began in the US late 2007 They warn, however, the [...]
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Frank Stein Jul 27, 2021 - 14:09 PM
As almost everyone who reviews this book mentions, this is truly an impressive piece of work The authors, Carmen Reinhart and Kenneth Rogoff, have assembled an amazing history of government defaults, hyperinflations, banking crises, and currency crises for the past 800 years in dozens of countries spanning the globe They didn t, understandably, compile a narrative of these hundreds of independent events, but coded them into a massive statistical database with which they could compare the relatio [...]
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Brion O'quigley Jul 27, 2021 - 14:09 PM
Another reviewer pointed out that some of the analysis in the book is based on faulty data Be that as it may, the book still provides generic findings about the financial cycle that are still valid It is a cogent analysis of hundreds of years of financials crises Contrary to what the Fed continuously repeats, it is possible to predict financial cycles and this book proves it by examining how bubbles have burst since the invention of money It provides an excellent explanation of the predictabilit [...]
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Gordon Jul 27, 2021 - 14:09 PM
This book is the current darling of the financial set, and I understand it has become required reading by economists, bankers, policy makers and the thoughtful financial pundits alike That s a rare feat The book assembles a vast data set on financial crises, from many countries both developed and emerging, and reduces it to a mass of charts and graphs along with text The title, as you might guess, refers to the fact that this time is different always turn out to be famous last words over and ov [...]
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Margaret Lozano Jul 27, 2021 - 14:09 PM
I gave this 2 stars, in spite of the fact that the authors played fast and lose with their data Not that it s any excuse, but I doubt that many studies would stand up to such careful scrutiny There s a lot of great information, and it s definitely a comprehensive examination of debt and default, even if they played with their numbers Ultimately, the authors fudged their data to make their conclusions seem compelling I would argue that any economist that tells you there s a 90% chance of a defin [...]
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Richard Jul 27, 2021 - 14:09 PM
It might be unfair for me to rate this book giving it 2 stars My rating is subjective This isn t the book I was looking for, and that isn t the authors fault So please view my rating with that in mind.This book is clearly aimed at an academic or professional economic audience The book is chock full of tables and graphs The amount and quality of data is impressive.As for the writing style, Alan Greenspan would be proud Here is a typical sentence pp 192 3 Interpreting the unconditional probability [...]
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linhtalinhtinh Jul 27, 2021 - 14:09 PM
I was about to say unratable Not because this book is a classic, nor because it is too scholarly for me to apprehend The reason is that I feel like it is too much like a draft The book is full of graphs, boxes, tables, albeit with quite detailed descriptions and brief explanations Put in another way, I feel like it is a preliminary analysis, where you throw out all raw materials you have, graphs, summaries, descriptives, and only with a very rough idea of what you are going to say This time is d [...]
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AC Jul 27, 2021 - 14:09 PM
The thesis of this book is important, but I cannot say it is worth actually reading very closely The gist can be extracted in a short time and the charts data scanned Only time will tell whether the authors fears are to be realizedThere s an old market adage that bears almost ALWAYS have the better argument but that bulls, when the day is done, are most often right Of course, being bullish today is a relative concept As Doug Henwood says, flat is the new up.This book, to my surprise even the his [...]
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John Jul 27, 2021 - 14:09 PM
Well, this is one of the few books I tried to finish but couldn t First I downloaded it from Audible However, this book has a ton of graphs and tables The reader of the audiobook frequently makes statements like As can be seen from table 2.2 The listener is unable to see table 2.2 as no tables or illustrations are provided either with the download or on the internet So that s frustrating Then I checked the book out in hardcopy from the library so as to be able to see the tables, etc Reading the [...]
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Charles Jul 27, 2021 - 14:09 PM
Unfortunately, this book is nearly unreadable Oh, I m sure it s readable if you re a professional or academic economist But for the casual reader, even one with a pretty good background knowledge of economics, it s mostly an endless series of highly technical, loosely related charts, graphs and conclusions All this to agree with the writer of Ecclesiastes, 2500 years ago, that The thing that hath been, it is that which shall be and that which is done is that which shall be done and there is no n [...]
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Nancy Jul 27, 2021 - 14:09 PM
Don t curl up by the fire intending to read this book.For most people reading this book would be a real slog It is dense and full of charts and tables However, picking it up, opening it to an interesting looking chapter and examining the tables and charts can be very engaging If you get bogged down, don t give up Pick it up from time to time and read a section You ll learn a lot about finance.While I did not read the whole book I got some good pointers from it One is that there was never a real [...]
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Rich Jul 27, 2021 - 14:09 PM
Initial impressions well explained book Was considering giving it 4 stars or higher.Due diligence 1 star on account of irregularities in the analysis that appear to be selectively biased Data matters this study hasn t replicated well, and while we might be able to give the authors the benefit of the doubt, it is worthwhile to highlight that this due diligence has happened well before now and yet many still give this book 4 or 5 stars without knowledge that a crucial argument of the text has been [...]
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Jerry Jul 27, 2021 - 14:09 PM
There are two ways of looking at this book one is as a huge collection of data provided in charts and tables and figures the other is as a series of examples about how this time is rarely different.The first couple of chapters, defining their types of crises and data sources, are tedious and boring, which they recognize, and tell the reader they may want to just skip ahead to the good bits Even the good bits are hardly exciting if you dislike tables and charts and figures, you will definitely di [...]
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Liam Jul 27, 2021 - 14:09 PM
Poyais fictional Latin American country issues sovereign debt in the 1820s debt boom 93 Recognizing the significance of domestic debt can go a long way toward resolving the puzzle of why many countries default on or restructure their external debts at seemingly low debt thresholds In fact, when previously ignored domestic debt obligations are taken into account, fiscal duress at the time of default is often revealed to be quite severe 119 The incidence of banking crises proves to be remarkably s [...]
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Susan Steed Jul 27, 2021 - 14:09 PM
The central premise of the book is that people always go this time is different yadda yadda about an economic boom but they are wrong and there are common features to all the financial crises over the last 8 centuries However, they actually managed to really convince me that, the 2008 financial crisis really was different So, unlike pretty much every other financial crisis they look at, after 2008, the US which was the epicentre of the sub prime shit storm actually had a currency appreciation In [...]
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John Esterly Jul 27, 2021 - 14:09 PM
This book was a bit overwhelming in its nature The authors start by saying that casual readers may want to skip the bulk of the book, starting on chapter twelve, which begins the analysis of the recent economic crisis of 2007 I would second this statement the first eleven chapters dig deep into historical data, data analysis, and data collection process and theory If you do not have a specific interest in these subjects, the authors package the last section of the book as a or less stand alone [...]
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Balhau Jul 27, 2021 - 14:09 PM
This is a very interesting book, full of data and respective macro economic interpretation The last words of the book resume it all This time may seem different, but all too often a deeper look shows it is not Encouragingly, history does point to warning signs that policy makers can look at to assess risk if only they do not become too drunk with their credit bubble fueled success and say, as their predecessors have for centuries, This time is different This piece of work is a detailed analysis [...]
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Ju-hyun Kim Jul 27, 2021 - 14:09 PM
good sequel of kindleberger s manias, panics and crahes a history of financial crises , , , 800 .800 , , , , 1980 illiquidity insolvency , , 1 4.4 , 2 , debasement currency collapse dollarization , .
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E Jul 27, 2021 - 14:09 PM
Sobering study of fiscal failures Every so often, experts sucker people into bidding up the prices of stocks or real estate because they announce that the economy has fundamentally changed As the aftermath of the real estate bubble illustrates, the basics of economics don t really change, no matter what fantasies people come to believe Economics professors Carmen M Reinhart and Kenneth S Rogoff present a thorough historical and statistical tour of financial hubris through the centuries, a postmo [...]
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Frans Saxén Jul 27, 2021 - 14:09 PM
This time is different is a thorough description of various financial crisis that have occurred during the last eight centuries Reading the book gave me insights into how non surprising the various crisis really should be Every time people will convince themselves that old economic regularities have stopped applying due to increased sophistication, and every time it ends in tears Gordon Brown s reflection in early 2007, on the eve of the financial crisis that, we will never return to the old boo [...]
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Flipniesten Jul 27, 2021 - 14:09 PM
Onderzoek naar de oorzaken van de financiele crises door de eeuwen heen Het gemeenschappelijke kenmerk van de crises is dat men altijd, voorafgaand aan de crisis, denkt dat de financieel economische omstandigheden geheel verschillen Weliswaar spelen er altijd een veelheid van oorzaken een rol bij een crisis maar een van de gemeenschappelijke factoren volgens dit onderzoek is dat een crisis altijd vooraf gegaan wordt door het afschaffen van wetten regels die de financiele of andere bedrijven moet [...]
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Joe Jul 27, 2021 - 14:09 PM
Right at the beginning of the book, and in the middle of the book, the authors warn you that this book is not a narrative history of financial folly and that the book is pretty technical and dry Believe them There were several times I almost gave up and only a sense of completion and achievement kept me from eating my own face in order to return a sense of feeling and life to my body and then giving up on the book.But I made it Was it worth it Hard to say I do have a greater understanding of all [...]
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Michael Jul 27, 2021 - 14:09 PM
This book could have been a really interesting history and discussion of previous financial crises and their causes Instead, it gets really into charts, tables, and data, but does not do a very good job at summarizing their overall significance it reads like the graduate dissertations you find in college libraries or in academic journals that almost no one bothers to read.That, by itself, is not the major problem The major problem with this book is that, after wading through all this wonkish ver [...]
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Andrew Carr Jul 27, 2021 - 14:09 PM
Interesting, and important but pretty dry I would recommend for all those who say Australia s debt doesn t matter This book shows that even if we are comparatively much better off than most countries, and have a comparatively low debt to GDP, that it still makes wise financial sense to move towards a low debt status Indeed, the fact we are doing so much better is all the reason to keep our noses extra clean This book had the exquisite timing of coming out during the GFC, but was not written to [...]
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Ed Jul 27, 2021 - 14:09 PM
This time is never different after any prolonged period of financial calm, policy makers and their advisers either forget history or invent reasons to believe that historical experience is irrelevant so the cycle of overvalued assets, huge trade imbalances and rapid acquisition of debt begins with the cheerleaders in academia and the business community telling each other and everyone else that this time the old valuation rules don t apply we are smarter, have better systems and have learned from [...]
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Jay Roberts Jul 27, 2021 - 14:09 PM
This is the most important book that no one will ever read The data provided is enormous, and presented in a manner that only economists would truly grasp I know of few people that could fully process the information provided in the work, myself included at times However, the information is sobering and necessary Nothing in our current economic situation is new, and this work proves the point that this time is not different People can attempt to read into this work and slant that data anyway the [...]
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Ed Jul 27, 2021 - 14:09 PM
Good Reads is so unbelievable clunky It took about six attempts for it to recognize this book Anyway this is an excellent history of financial booms and busts Not as good as Kindlebergers classic on the same subject but up to data and based on a comprehensive data base Analytically sound though sometimes a little ideological free market wise but this does not detract from its basic message during financial booms, this time is never different and there is a bust coming I remember in the run up [...]
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Phil Jul 27, 2021 - 14:09 PM
It s data Hooray data The authors aren t trying to write a book for a wide audience It s mathematical and dry that s the point I hold a Bachelor s degree in Economics from a top 25 university my coursework included International Finance and Econometrics and I still found this book difficult It s worth it if you are interested in economics and you don t get nervous when the authors don t apologize for being experts A relatively simple passage from this book is something like, A country can circum [...]
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Rogier Potter van loon Jul 27, 2021 - 14:09 PM
The book is written in a rather boring and technical manner, as if it were an academic article This would be okay, if it weren t for the fact that everything that s shown is descriptive statistics Every other page seems to mention how they have this unique new big dataset and how this allows for new insights and analyses, but these analyses are never shown The book is really just one big description of their dataset Nowhere in the book is there a convincing case, for example, that the This time [...]
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This Time Is Different: Eight Centuries of Financial Folly By Carmen M. Reinhart Kenneth S. Rogoff This Time Is Different: Eight Centuries of Financial Folly Best Read || [Carmen M. Reinhart Kenneth S. Rogoff] - This Time Is Different: Eight Centuries of Financial Folly, This Time Is Different Eight Centuries of Financial Folly 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

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  • This Time Is Different: Eight Centuries of Financial Folly Best Read || [Carmen M. Reinhart Kenneth S. Rogoff]
    322 Carmen M. Reinhart Kenneth S. Rogoff
This Time Is Different: Eight Centuries of Financial Folly