This sixth edition has been revised and expanded to bring the history of financial crisis up to date, covering such topics as speculative manias, the lender of last resort and the case of Lehman Brothers. Ths highly anticipated volume has been hailed as ‘a true classic…both timely and timeless.’

This is the classic on crashes and financial crises. “Manias, Panics, and Crashes, Fifth Edition” is a scholarly and entertaining account of the way that mismanagement of money and credit has led to financial explosions over the centuries. Covering such topics as the history and anatomy of crises, speculative manias, and the lender of last resort, this book has been hailed as “a true classic …both timely and timeless.” In this new, updated Fifth Edition, Kindleberger and Aliber expand upon the ideas presented in the previous edition, and include two new chapters on the real estate price bubble that occurred in Norway, Sweden, and Finland at the end of the 1980s, and the three asset price bubbles that occurred between 1985 and 2000 in Japan and other Asian countries.Selected as one of the 10 best investment books of all time by the “Financial Times”, “Manias, Panics, and Crashes” puts the turbulence of the financial world in perspective. Charles P. Kindleberger was the Ford Professor of Economics at MIT for 33 years. He was a financial historian and prolific writer who has published 30 books. Robert Aliber (Chicago, IL) is a professor of international economics and finance at the University of Chicago Graduate School of Business, where he has been a faculty member since 1965.