An authoritative "biography" of one of history's great financial
crises with enduring lessons about contemporary finance
In this newly-revised second edition, offering 50% entirely new
material, The Panic of 1907: Heralding a New Era of Finance, Capitalism,
and Democracy, delivers a groundbreaking examination of one of the most
consequential crises in financial history. Deftly weaving historical
evidence, insightful analysis, and compelling narrative, The Panic of
1907 explains how and why a financial panic unfolds, with lessons that
can be applied to our understanding of present-day financial and
monetary systems. In the book, you'll find:
- The reasons why, despite today's stronger monetary regime and
risk-mitigation tools, our modern institutions are not immune to
future crises
- Explanations about the development of the United States' Federal
Reserve System, which was created in 1913 in direct response to the
Panic of 1907
- An engaging and entertaining account of an innately fascinating period
in financial and economic history, with remarkable leaders and a
gallery of rogues
An indispensable tale that belongs on the shelves of anyone with an
interest in American or financial history, The Panic of 1907 is an
expert retelling of one of the most important, but least well-known
crises of the last 200 years.
