Manias, Panics, and Crashes: A History of Financial Crises (Wiley Investment Classics)

For example, the author mentions, references, alludes to ... "the South Sea Bubble" at least fifty times(!!) in this book, Yet having read the text completely all I know about the famous South Sea Bubble is that it had something to do with speculation in a stock of the South Sea company, that it happened in England, and it occurred in 1720. The simple "Who, What, When, Where, Why and How" are never spelled out. Never. (Yes that simple and straightforward informantion is what I'd really hoped for, thus I wax bitterly.) If you feel you must read this book, first ask yourself if are familiar with all of the following :the south sea bubble, the missippi bubble, the london crisis of 1866, the new york crisis of 1907, the writings of Walter Bagehot, tulipmania (holland, 1600's), Bleichroder, ....... (this list could go on for pages). If "no" then reconsider your desire, as all the above are ASSUMED to be well known by the reader and such knowledge is essential to understanding the arguments and information presented.

It is very scholarly - Plenty of obscure words and fully 50 pages of apendices and endnotes (!! in a 250 page book). But it is poorly written. And the endless "obscure name dropping and event referencing" failed in its intention to make the author appear profoundly knowledgable; I found it little better than irritating.

I was very very very disappointed with this book. It was writen for those who have completed graduate work in "Financial History". If you haven't, you won't find this book readable or illuminating. I am a curious person who enjoys learing from books, but THIS was a painful read. The useful and significant infromation in this book could be very well presented in a concise, well written 20 pages. We all have better things to do with our time and money.

D. J. Tarico, Ph.D.


this book is excellent and particularly timely.   November 19, 1997
3 out of 5 found this review helpful

Mr. Kindleberger explores a little understood/discussed topic and brings it into focus for investors of varying levels of sophistication. It is especially good reading in the context of the headlong rush into "emerging markets" that the Wall St. pundits have advocated in recent years. As foreign markets come unraveled his chapter on international propogation of crises is spectacular for its insights.