A Macat Analysis of Charles P. Kindleberger's Manias, Panics, and Crashes: A History of Financial Crises

When Charles P. Kindleberger¿s Manias, Panics, and Crashes: A History of Financial Crises was first published in 1978, the world was entering a new period of global economic turbulence. Established economists based their analyses on the assumption that investors act rationally, and these economists often communicated their ideas with dry, technical language. Kindleberger rebelled against convention. Using a more literary and descriptive style, he came up with a new view. He argued that ma…