Manias, Panics, and Crashes: A History of Financial Crises

Manias, Panics, and Crashes: A History of Financial Crises examines the recurring patterns behind speculative bubbles and financial collapses. Charles P. Kindleberger's historical framework, updated in later editions by Robert Z. Aliber and Robert N. McCauley, traces how credit expansion can turn into euphoria and then panic. The book considers episodes across centuries alongside modern disruptions, including cryptocurrency and property markets, and explores central banks' role as lenders of last resort. It suits investors and students seeking historical perspective on systemic risk and pairs well with our guides on market psychology and risk management.