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I - Introduction

Published online by Cambridge University Press:  05 August 2019

James Gerber
Affiliation:
San Diego State University
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Summary

Financial crises are a normal feature of contemporary market economies. They are analogous to diseases or natural disasters and, like some diseases and most natural disasters, are currently beyond the ability of science to prevent or to accurately predict. In part this because most of the preconditions of financial crises also occur in situations that do not develop into a crisis. Nevertheless, it is possible to minimize the risks of a crisis and to mitigate the damage when they do happen.

While financial crises usually do not kill people directly, the economic damage can lead to numerous indirect deaths, with monetary costs that are comparable to wars and that are far greater than the largest natural disasters. Compare the Subprime Crisis to recent natural disasters such as Hurricanes Katrina or Harvey.

Type
Chapter
Information
A Great Deal of Ruin
Financial Crises since 1929
, pp. 1 - 14
Publisher: Cambridge University Press
Print publication year: 2019

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  • Introduction
  • James Gerber, San Diego State University
  • Book: A Great Deal of Ruin
  • Online publication: 05 August 2019
  • Chapter DOI: https://doi.org/10.1017/9781108608589.001
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  • Introduction
  • James Gerber, San Diego State University
  • Book: A Great Deal of Ruin
  • Online publication: 05 August 2019
  • Chapter DOI: https://doi.org/10.1017/9781108608589.001
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • Introduction
  • James Gerber, San Diego State University
  • Book: A Great Deal of Ruin
  • Online publication: 05 August 2019
  • Chapter DOI: https://doi.org/10.1017/9781108608589.001
Available formats
×