Join economist Linda Yueh, author of "The Great Crashes," and Jesse Norman, UK Minister and author, as they explore the lessons from past financial crises. They discuss the unpredictability of future downturns and the impact of globalization on markets. Yueh warns about emerging risks in China and advocates for principle-based approaches to crisis management. The duo highlights the intricate dance between economic cycles, human behavior, and effective regulatory measures to maintain stability in turbulent times.
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Types of Financial Crises
Financial crises have various forms, like stock market or housing crashes.
The worst crises involve banks and often combine multiple types, leading to recessions and societal misery.
insights INSIGHT
The Great Crashes Book
Linda Yueh's book "The Great Crashes" chronologically follows John Kenneth Galbraith's "The Great Crash 1929".
Yueh analyzes crashes over the past century, identifying common patterns like euphoria, crisis resolution, and aftermath.
insights INSIGHT
Currency Crises
The internationalization of financial markets increased the speed of crises.
Speculator attacks on currencies are driven by doubts about exchange rate credibility.
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The novel follows Paul Ravenel as he attempts to atone for his father's past mistakes by joining the French army in Morocco. There, he falls in love with Marguerite Lambert and becomes embroiled in local conflicts. The story explores themes of redemption, love, and political intrigue.
The great crash, 1929
John Kenneth Galbraith
In 'The Great Crash, 1929', John Kenneth Galbraith provides a detailed historical account of the events leading up to the stock market crash of 1929 and its aftermath, the Great Depression. The book explores the speculative excesses, economic imbalances, and policy mistakes that contributed to the crisis. Galbraith emphasizes the importance of understanding these historical events to prevent similar economic disasters in the future.
Since the Wall Street Crash in 1929, financial meltdowns have repeatedly sent shockwaves through our world. From the currency crises of the 1980s and 1990s, to Japan’s housing crash, the dot com boom and bust, the global financial meltdown, the euro crisis and the COVID pandemic. In May 2023, economist Linda Yueh came to Intelligence Squared to tell the stories of these historic events and what we can learn from them. Drawing from her new book The Great Crashes, Yueh warns about where the next crash might come from and shows how to prepare for them and prevent them. Joining her in conversation is politician and author, Jesse Norman.
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