Summary of This Time Is Different

Looking for the book?
We have the summary! Get the key insights in just 10 minutes.

This Time Is Different book summary
Start getting smarter:
or see our plans

Rating

8 Overall

9 Importance

8 Innovation

6 Style

Recommendation

Every so often, experts sucker people into bidding up the prices of stocks or real estate because they announce that the economy has fundamentally changed. As the aftermath of the real estate bubble illustrates, the basics of economics don’t really change, no matter what fantasies people come to believe. Economics professors Carmen M. Reinhart and Kenneth S. Rogoff present a thorough historical and statistical tour of financial hubris through the centuries, a postmortem that will make you wonder how anyone ever believed “this time is different.” The staid tone, formulas, charts and somewhat confusing organization make this fascinating history challenging to absorb. Yet, the content, which sweeps ambitiously and carefully across centuries and countries, rewards the persistent reader with many insights and gems, like the nation-by-nation appendix of fiscal history low points. getAbstract recommends this analytical overview to history buffs, investors, managers and policy makers who seek perspective on “financial folly.”

In this summary, you will learn

  • How “this-time-is-different syndrome” takes hold;
  • How bubbles evolve without widespread detection; and
  • How eight historic financial crises unfolded.
 

About the Authors

Carmen M. Reinhart of the University of Maryland and Kenneth S. Rogoff of Harvard University are economics professors. Reinhart, who lectures at the International Monetary Fund and the World Bank, is the co-editor of The First Global Financial Crisis of the 21st Century. Rogoff, co-author of Foundations of International Macroeconomics, is a commentator for The Wall Street Journal, National Public Radio and The Financial Times. //

 

Summary

When You Hear “This Time Is Different,” Don’t Walk, Run
Every few decades, the economy’s major players develop bulletproof confidence in the efficiency of markets and the health of the economy. Known as “this-time-is-different syndrome,” this unrealistic optimism afflicted bankers, investors...

Get the key points from this book in 10 minutes.

For you

Find the right subscription plan for you.

For your company

We help you build a culture of continuous learning.

 or log in

Comment on this summary

More on this topic

By the same authors

Contained in Knowledge Pack:

Customers who read this summary also read

More by category