Financial Crises – What do they have in common

Dr. Kenneth Rogoff at a Canada 2020 Luncheon 

Image by canada.2020 via Flickr

We would all like to understand the reasons behind the recent financial crisis. A recent book by Carmen M. Reinhart and Kenneth Rogoff is an ideal starting point for any debate on the subject according to Andrew Gamble, who reviewed the book a few years ago. After reading the book reviews you might like to look at the testimony given by Chairman Ben S. Bernanke, before the Financial Crisis Inquiry Commission on September 2, 2010, in Washington. If Reinhart and Rogoff are right the inquiry my have been a bit of a waste of time because in the end we just do not learn from our mistakes.

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