Manias, Panics, and Crashes

This book, first published in 1978, tracks various financial crises through time, from 'Tulipmania' to the global financial crisis of 2008.

It disentangles the narrative of many financial disasters into their component parts and educates readers on how to identify different phases of the financial cycle.

The book covers historical financial manias, typical patterns of crisis evolution, and fraudulent behaviors.

Later editions, updated by Robert Z. Aliber and Robert McCauley, include new chapters on cryptocurrency, the US as the global lender of last resort, and recent financial bubbles in China and the US housing market.

The book is a valuable resource for finance and economic researchers, students, practitioners, and policymakers.