This Time is Different: Eight Centuries of Financial Folly
A summary of the book written by Carmen Reinhart and Ken Rogoff (2009) = Article #5
I. Why this book, and what’s it about?
This Time is Different: Eight Centuries of Financial Folly is a comprehensive analysis of financial crises over 800 years. The overarching conclusion is that financial crises are not unique or new phenomena but rather a part of a historical pattern characterized by excessive optimism, risky financial behavior, and …