What can or should be done to ward off or alleviate the effect of
financial crises? The papers in this book examine this question,
focusing on particular crises, notably those of 1836, 1873, 1920
and 1929. Based on a historical consideration of the nature and
propagation of financial crises, the major theoretical issues
raised by the contributors centre on whether a financial system, of
a nation or of the capitalist world as a whole, is fragile or
robust. Although no precise definitions are agreed upon, financial
crises are distinguished from crises of unemployment or crises of
wartime devastation. The book is based on the papers and
proceedings of a conference held in Bad Homberg, West Germany, in
May 1979 under the auspices of the Maison de Science de I'Homme and
with the support of the Werner-Reimers Stiftung.
General
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