Book description
An authoritative "biography" of one of history's great financial crises with enduring lessons about contemporary finance
In this newly-revised second edition, offering 50% entirely new material, The Panic of 1907: Heralding a New Era of Finance, Capitalism, and Democracy, delivers a groundbreaking examination of one of the most consequential crises in financial history. Deftly weaving historical evidence, insightful analysis, and compelling narrative, The Panic of 1907 explains how and why a financial panic unfolds, with lessons that can be applied to our understanding of present-day financial and monetary systems. In the book, you'll find:
- The reasons why, despite today's stronger monetary regime and risk-mitigation tools, our modern institutions are not immune to future crises
- Explanations about the development of the United States' Federal Reserve System, which was created in 1913 in direct response to the Panic of 1907
- An engaging and entertaining account of an innately fascinating period in financial and economic history, with remarkable leaders and a gallery of rogues
An indispensable tale that belongs on the shelves of anyone with an interest in American or financial history, The Panic of 1907 is an expert retelling of one of the most important, but least well-known crises of the last 200 years.
Table of contents
- Cover
- Title Page
- Copyright
- Dedication
- Foreword
- Acknowledgments
- Prologue
- Introduction
- Chapter 1: A Buoyant Decade, a Fragile System, and Some Leaders at Its Apex
- Chapter 2: A Shock to the System
- Chapter 3: The “Silent” Crash
- Chapter 4: Credit Crunch
- Chapter 5: Copper King
- Chapter 6: The Corner and the Squeeze
- Chapter 7: Falling Dominoes
- Chapter 8: Clearing House
- Chapter 9: Knickerbocker
- Chapter 10: A Vote of No Confidence
- Chapter 11: A Classic Run
- Chapter 12: Such Assistance as May Be Necessary
- Chapter 13: Trust Company of America
- Chapter 14: Crisis on the Exchange
- Chapter 15: A City in Trouble
- Chapter 16: Modern Medici
- Chapter 17: Instant and Far‐Reaching Relief
- Chapter 18: Turning the Corner
- Chapter 19: Ripple Effects
- Chapter 20: Reckoning and a Split
- Chapter 21: Money Trust
- Chapter 22: A Central Bank
- Chapter 23: The Changing Order
- Chapter 24: Reflections and Lessons
- Technical Appendix: Analysis of Trust Company Diversity and Deposit Runs
- Bibliography
- About the Authors
- Index
- End User License Agreement
Product information
- Title: The Panic of 1907, 2nd Edition
- Author(s):
- Release date: March 2023
- Publisher(s): Wiley
- ISBN: 9781394180271
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