Questa volta è diverso. Otto secoli di follia finanziaria

Więcej o książce

Throughout history, countries have experienced a range of financial crises, with experts often declaring, "this time is different," insisting that past lessons no longer apply. In this groundbreaking study, economists Carmen Reinhart and Kenneth Rogoff challenge this notion by examining sixty-six countries over eight centuries. They provide a comprehensive analysis of government defaults, banking panics, and inflationary spikes, from medieval currency debasements to contemporary subprime disasters. The authors argue that financial crises are universal experiences for both emerging and established markets, revealing how little we have learned from history. Their clear analysis and extensive data show that financial downturns occur in clusters, with consistent frequency, duration, and intensity. They explore patterns of currency crashes, hyperinflation, and government defaults on debts, alongside cycles in housing and equity prices, capital flows, unemployment, and government revenues. While nations may survive financial turmoil, Reinhart and Rogoff highlight how short memories facilitate the recurrence of crises. This significant work is poised to influence policy discussions for years, shedding light on centuries of financial missteps.