This Time is Different
Introduction
I was required to complete a review on one of the listed books. First what jumped to my eyes the heading of the book. I thought this book ‘This Time is Different’ will be interesting to read. I thought it will be about different times and different countries financial history (about bank crisis, currency crashes and so on) and how these countries survived in different times. Furthermore, before I bought this book, I read the brief of the book it sounded interesting, than I wanted to read and to know more about it.
Author’s credentials
Carmen M. Reinhart is the Dennis Weatherstone Senior Fellow at the Peterson Institute for International Economics. Previously she was professor of economics at the University of Maryland. She has held a positions in IMF.
Kenneth S. Rogoff is the Thomas D. Cabot Professor of Public Policy and professor of economics at Harvard University. He received his PhD in Economics from MIT. He is a commentator for NPR, the Wall Street Journal. And the Financial Times.
Carmen M. Reinhart and Kenneth S. Rogoff made a big contribution to financial history, collected data which covered sixty-six countries and different time periods and wrote about financial crisis, inflation,international debt currency crashes and debasements.
They are first researches in the history about the financial crisis over many years. The author’s were trying to explain in the book, that ‘This Time is Different’ syndrome is wrong that financial crisis is happening to other countries not to us, because we are doing better as we learn from the past.
Summary
At the beginning of the book authors is introducing with various crisis and their dates. In the first chapter there are explanations, and definitions, concepts which are relevant with historical economic crisis, inflation, currency crashes, debasements. The crisis happened even in