Charles Poor 'Charlie' Kindleberger (October 12, 1910 – July 7, 2003) was an economic historian and author of over 30 books. His 1978 book Manias, Panics, and Crashes, about speculative stock market bubbles, was reprinted in 2000 after the dot-com bubble. Hp Photosmart C3100 Driver For Windows 8 64 Bit.

Those who have not read Charles Kindleberger’s Manias, Panics, and Crashes: A History of Financial Crises, should. Those who have read it, but not recently, should read it again. This economic classic, first published in 1978, should be a regular staple for all, from central bankers to ordinary bankers, from investors to regular businessmen and women, in the halls of government and in the average living room.

Crack Sap Ehp 7. In the revised edition, Kindleberger presents 40 some documented events in the 400+ years from 1600 to 2012 (there may have been more years of financial crisis than not in the 19 th century!) in the context of how financial crises evolve. Driver De Impresora Hp Deskjet 2050 Windows 8. He also has a full appreciation for human weakness in the face of easy profits as opposed to the hard labor and uncertainty associated with real wealth creation.

Kindleberger’s approach, largely based on the work of the late Hyman Minsky, views financial crises as the culmination of a process where expectations, financed by excessive credit creation, often result in speculative excesses or manias. Speculation can be both stabilizing and destabilizing, or, when allowed to intensify unchecked, may result in a panic or crash and the extent of the excess is realized. Kindleberger does not blame markets per se for creating the circumstances in which irrationality takes over—on the whole he regards markets as generally efficient but often in need of help. He does recognize the irrationality of human beings and the power of innovation, particularly financial innovation, in helping people get themselves into real trouble. Part of the power of Kindleberger’s insights, especially in the current context, is that financial crises do not just come out of thin air.