AnyBook4Less.com	Find the Best Price on the Web Order from a Major Online Bookstore
Home  |  Store List  |  FAQ  |  Contact Us  |
Ultimate Book Price Comparison Engine Save Your Time And Money Keyword AuthorISBN

Title: The Second Great Crash by Frances. Cairncross ISBN: 0-13-797530-9 Publisher: Prentice Hall Pub. Date: April, 1975 Format: Hardcover List Price(USD): $5.95

Your Country USA Canada United Kingdom Australia Austria Belgium France Germany Italy Netherlands Switzerland Currency AutoUSD CAD GBP EUR AUD CHF Delivery Only cheapest delivery All delivery options Include Used Books Are you a club member of: Barnes and Noble Books A Million Chapters.Indigo.ca

Average Customer Rating: 2 (1 review)

Rating: 2
Summary: The catastrophe that didn't happen.
Comment: The author predicted a worldwide economic crisis after the first oil shock, for the simple reason that the oil producing countries couldn't spend the money surplus they collected after the drastic increase of the oil price. That would lead to a worldwide depression. It was not to be.
We now know what happened. They gave the money to the US banks, who (Walter Wriston) lent it to different countries, for in his opinion a country could not go bankrupt. But those countries couldn't repay their debt and provoked a first round of bank mergers with a loss of thousands of jobs.
Good information on the Herstatt bankruptcy.
Only for historians.