3 Review(s)

This Time Is Different: Eight Centuries Of Financial Folly by Carmen Reinhart and Kenneth Rogoff is a well researched book on the failure to tackle the financial crises every time they occur. The authors have shown that the root cause for the financial crisis is very much the same each time and negate the general sentiment that the reason is different in every instance. The authors have based their studies on the economic scenario in five continents and the financial situation in each continent. They have also based their research on the medieval times and analyzed the economic condition during those times. In addition, they have suggested in the book that the prime cause of the financial meltdown occurs since we have managed to learn little from every crisis that we have witnessed. The readers are also presented with sufficient statistics and data that the crises happen in groupings and have far-reaching consequences. The authors insist that the countries manage to sustain the present problems at hand but do not come with a solution that could deal with future troubles. Carmen Reinhart was born October 7, 1955, and is a professor at the Harvard Kennedy School teaching International Financial System. She has co-written books like A Decade Of Debt and Assessing Financial Vulnerability: An Early Warning System for Emerging Markets. She specializes in Macro Economics and International Finance. She has been involved in educating people about Financial Instabilities for the last 10 years. Kenneth Rogoff was born on March 2, 1953. He has co-written books like The Handbook of International Economics Volume III and Foundations of International Macroeconomics. He is a professor of economics at the Harvard University, and he specializes in Financial Economics.