---
product_id: 62311109
title: "This Time Is Different: Eight Centuries of Financial Folly"
price: "VT10781"
currency: VUV
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reviews_count: 8
url: https://www.desertcart.vu/products/62311109-this-time-is-different-eight-centuries-of-financial-folly
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region: Vanuatu
---

# global crises & economic patterns covers sovereign defaults & banking crises 8 centuries of financial data This Time Is Different: Eight Centuries of Financial Folly

**Price:** VT10781
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## Summary

> 📚 Decode centuries of financial folly before the next crash hits!

## Quick Answers

- **What is this?** This Time Is Different: Eight Centuries of Financial Folly
- **How much does it cost?** VT10781 with free shipping
- **Is it available?** Yes, in stock and ready to ship
- **Where can I buy it?** [www.desertcart.vu](https://www.desertcart.vu/products/62311109-this-time-is-different-eight-centuries-of-financial-folly)

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## Key Features

- • **Data-Driven Insights:** Dive into 800+ years of meticulously researched financial crises data.
- • **Myth-Busting Analysis:** Debunk the 'this-time-is-different' fallacy with rigorous economic evidence.
- • **Accessible Yet Scholarly:** Perfect for professionals seeking deep, clear, and actionable financial history insights.
- • **Comprehensive Crisis Coverage:** Explore sovereign defaults, banking meltdowns, hyperinflation, and exchange rate crashes.
- • **Global & Historical Perspective:** Understand how financial turmoil transcends borders and centuries.

## Overview

This Time Is Different: Eight Centuries of Financial Folly by Reinhart and Rogoff is a landmark, data-rich analysis of recurring global financial crises spanning 800 years. Combining rigorous research with accessible explanations, it exposes the persistent patterns behind sovereign defaults, banking collapses, and economic downturns, debunking the myth that modern booms are fundamentally different. Essential reading for finance professionals and managers aiming to anticipate and understand systemic risks.

## Description

Buy This Time Is Different: Eight Centuries of Financial Folly Illustrated by Carmen M. Reinhart, Kenneth Rogoff (ISBN: 8601404555053) from desertcart's Book Store. Everyday low prices and free delivery on eligible orders.

Review: The irrational syndrome:viewing impending financial crises through pink-tinted lenses - The book is significant and substantial. The data collated by the authors from other sources or emanating from their own research is impressive. But the book is not simply the product of hard working and meticulous authors but also of intelligent ones. The authors are insightful and incisive. The wealth of data render tables and graphs illustrate the points made in the text with crystalline clarity. The authors certainly do not lack wit but their aim is not to entertain and create pyrotechnics but to inform, provide substance and in this way fulfill the reader in his/her gaining insight into the nature, severity, indicators and sequencing of a wide array of financial crises. The authors are meticulous and explain with professional integrity to the reader the methodologies they employ and the merits but also limitations of these methodologies;they are considerate to the reader to the point of advising which parts to skip without losing continuity. It is true that the book is rigorous and scholarly but accessible to the intelligent layman with elementary knowledge in Statistics and modest exposure to Economics vocabulary. The authors dispel compellingly and conclusively the "this-time-is-different" syndrome. The syndrome simply stated is that the old rules of valuation no longer apply and that the current boom, unlike the many that preceded catastrophic collapses in the past, is built on sound fundamentals, structural reforms, technological innovation, and good policy. The book in detailing crises that have arisen over the past eight centuries exposes this myth and shows that boom-bust cycles recur with relentless regularity, a trend that is likely to continue in the future. But the preceding serves simply as a point of departure and the focus of the book is on the crises themselves while systematic data and Macroeconomic Time Series cover the period 1800-2008. The book examines a wide array of financial crises such as sovereign defaults (foreign and domestic), banking crises, exchange rate crises, hyperinflation while it observes that crises often occur in clusters. The penultimate chapter examines situations such as the Great Depression of the 1930s and the latest world wide financial crisis which it labels the "Second Great Contraction"- in which crises occur in clusters and on a global scale. The book shows that advanced countries and economies may have "graduated" from serial default on sovereign debt and recurrent episodes of very high inflation as the cases of Austria, France, Spain and others illustrate. But History tells us that "graduation" from recurrent banking financial crises is much more elusive and that advanced economies are as vulnerable to them as emerging economies. The literature suggests that markedly rising asset prices, slowing real economic activity, large current account deficits, and sustained debt built ups (whether public, private, or both) are important precursors to financial crisis;also sustained capital inflows are particularly strong markers for financial crises. The preceding were very prevalent and pronounced preceding the subprime crisis in the United States which evolved into a major global financial crisis parallel only to the Great Depression of the 1930s. The aftermath of severe financial crises particularly global are characterized by asset market collapses which are deep and prolonged, profound collapses in output and employment, and government debt that explodes not only due to bail outs but also due to collapse in revenues and soaring interest rates on debt. Serious global financial crises are painful and protracted events extending over several years. In concluding, I cannot recommend the book strongly enough to the serious reader but at the same time I caution that the book is not suited to the casual reader and the faint-hearted.
Review: Good book - This is a good book full of robust analyses, a clear structure, nice examples and conclusions. It covers all the major types of market & state financial failures. However, the writting style is sometimes repetitive and cumbersome or too academic/boring.

## Features

- Princeton University Press

## Technical Specifications

| Specification | Value |
|---------------|-------|
| Best Sellers Rank | 71,461 in Books ( See Top 100 in Books ) 51 in Finance & Stock Market History 316 in Business & Economic History 539 in Professional Finance |
| Customer Reviews | 4.2 out of 5 stars 826 Reviews |

## Images

![This Time Is Different: Eight Centuries of Financial Folly - Image 1](https://m.media-amazon.com/images/I/71Yl24sUv9L.jpg)

## Customer Reviews

### ⭐⭐⭐⭐⭐ The irrational syndrome:viewing impending financial crises through pink-tinted lenses
*by S***T on 23 December 2009*

The book is significant and substantial. The data collated by the authors from other sources or emanating from their own research is impressive. But the book is not simply the product of hard working and meticulous authors but also of intelligent ones. The authors are insightful and incisive. The wealth of data render tables and graphs illustrate the points made in the text with crystalline clarity. The authors certainly do not lack wit but their aim is not to entertain and create pyrotechnics but to inform, provide substance and in this way fulfill the reader in his/her gaining insight into the nature, severity, indicators and sequencing of a wide array of financial crises. The authors are meticulous and explain with professional integrity to the reader the methodologies they employ and the merits but also limitations of these methodologies;they are considerate to the reader to the point of advising which parts to skip without losing continuity. It is true that the book is rigorous and scholarly but accessible to the intelligent layman with elementary knowledge in Statistics and modest exposure to Economics vocabulary. The authors dispel compellingly and conclusively the "this-time-is-different" syndrome. The syndrome simply stated is that the old rules of valuation no longer apply and that the current boom, unlike the many that preceded catastrophic collapses in the past, is built on sound fundamentals, structural reforms, technological innovation, and good policy. The book in detailing crises that have arisen over the past eight centuries exposes this myth and shows that boom-bust cycles recur with relentless regularity, a trend that is likely to continue in the future. But the preceding serves simply as a point of departure and the focus of the book is on the crises themselves while systematic data and Macroeconomic Time Series cover the period 1800-2008. The book examines a wide array of financial crises such as sovereign defaults (foreign and domestic), banking crises, exchange rate crises, hyperinflation while it observes that crises often occur in clusters. The penultimate chapter examines situations such as the Great Depression of the 1930s and the latest world wide financial crisis which it labels the "Second Great Contraction"- in which crises occur in clusters and on a global scale. The book shows that advanced countries and economies may have "graduated" from serial default on sovereign debt and recurrent episodes of very high inflation as the cases of Austria, France, Spain and others illustrate. But History tells us that "graduation" from recurrent banking financial crises is much more elusive and that advanced economies are as vulnerable to them as emerging economies. The literature suggests that markedly rising asset prices, slowing real economic activity, large current account deficits, and sustained debt built ups (whether public, private, or both) are important precursors to financial crisis;also sustained capital inflows are particularly strong markers for financial crises. The preceding were very prevalent and pronounced preceding the subprime crisis in the United States which evolved into a major global financial crisis parallel only to the Great Depression of the 1930s. The aftermath of severe financial crises particularly global are characterized by asset market collapses which are deep and prolonged, profound collapses in output and employment, and government debt that explodes not only due to bail outs but also due to collapse in revenues and soaring interest rates on debt. Serious global financial crises are painful and protracted events extending over several years. In concluding, I cannot recommend the book strongly enough to the serious reader but at the same time I caution that the book is not suited to the casual reader and the faint-hearted.

### ⭐⭐⭐⭐ Good book
*by K***7 on 25 November 2018*

This is a good book full of robust analyses, a clear structure, nice examples and conclusions. It covers all the major types of market & state financial failures. However, the writting style is sometimes repetitive and cumbersome or too academic/boring.

### ⭐⭐⭐⭐⭐ Lucid, thorough, essential reading for policy makers
*by D***N on 20 September 2013*

This book investigates datasets connecting financial measures such as debt or real estate price changes to financial turmoil. Its a huge work, and I guess academics could not previously have conducted this without the computational tools which are now available. In the same way we now have software to decode DNA, we can apply similar computational tricks to financial data. The book analyses domestic debt; data that has apparently been unavailable previously, as governments are not that willing to reveal how much they have borrowed historically. Indeed, the authors make it clear that there is obfuscation going on here, as with modern technology, this data should be readily available. Nevertheless, they have tacked bits of domestic internal debt data together in order to aid the analysis. Future generations will look back at our present financial easing and wonder what the hell we were thinking, trying to dig ourselves out of a financial crisis (bought on by real estate lending), by trying to further stimulate the real estate market. All the more so given analysis which is now readily available, such as in this book. One extension which I would like to see would be to include implicit debt, such as historic promises of state benefits, in order to draw further conclusions about our current financial situation. In the UK, we have the NHS and public sector pensions to finance. In the US, there is the medicare bill. It would be interesting to have seen the impact of these implicit debts being quantified in This Time is Different.

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*Last updated: 2026-02-21*