Charles P. Kindleberger (1910–2003)

Ok- more like i wanted to read it. I read about 100 pages, but gave it up as i really wasn't getting much out of it. Loaded with the backstory of German debt and money supply and competing theories of Friedman / Keynes .. it is constantly making hard points... that are a bit too subtle for me. So... i am sure it is great, but in the end... too much for me ... alas. I actually bought this book since library didn't have it and i opted not to ILL it- it was highly recommended in some review i read. o well.… (more)

The book is regarded as a classic on the history of financial meltdowns similar to the 2008-09 global economic crisis. The author recounts bubbles and crashes over several centuries. The bottom line from his analysis is that the existence of a lender of last resort (like the IMF today) helps dampen and reduce the frequency of crashes. The author's style is informal and often witty. But understanding the content requires a lot of knowledge about banking and finance. In other words, the book often put me to sleep.… (more)

It is possible that I am just extraordinarily stupid about money. It is also possible that, even when they are writing for a lay audience, economists are extraordinarily poor at conveying information. When pages full of what appears to be information nevertheless fail to convey any concrete meaning I suspect one of two possibilities. (well three in fairness, if the 'I am too stupid to get this' option must be retained) Either the basic knowledge to make sense of the subject is just not there--for examples talk of genetics before Mendel; or these who understand what is going on have some reason for not wanting others to understand. In any case, I just didn't finish this book.… (more)