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Financial crisis

Index Financial crisis

A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value. [1]

202 relations: A Monetary History of the United States, Agent-based computational economics, Albanian Civil War, America's Great Depression, American International Group, Amsterdam banking crisis of 1763, Andre Gunder Frank, Anna Schwartz, Australian banking crisis of 1893, Austrian School, Bailout, Bank Charter Act 1844, Bank run, Bankruptcy, Baring crisis, Basel II, BBC, Bear Stearns, Behavioral economics, Ben Bernanke, Bernard Madoff, Bill Moyers Journal, Black Friday (1869), Black Monday (1987), Black Wednesday, Bubble Act, Business cycle, Byzantine Empire, Capital flight, Capital requirement, Capitalism, Carmen Reinhart, Centre for Economic Policy Research, Charles Mackay (author), Charles P. Kindleberger, Charles Ponzi, Complex system, Coordination game, Credit crunch, Credit default swap, Crisis of 1772, Crisis theory, Currency crisis, Danish state bankruptcy of 1813, Debasement, Deregulation, Devaluation, Diamond–Dybvig model, Didier Sornette, Dionysius I of Syracuse, ..., Dominique Strauss-Kahn, Dot-com bubble, Early 1990s recession, Early 2000s recession, Economic bubble, Economic stagnation, Economy, Embezzlement, European debt crisis, European Exchange Rate Mechanism, Extraordinary Popular Delusions and the Madness of Crowds, Fannie Mae, Federal Bureau of Investigation, Financial accelerator, Financial crisis, Financial crisis of 2007–2008, Financial fragility, Financial innovation, Financial stability, Finnish banking crisis of 1990s, Fixed exchange-rate system, Flight-to-liquidity, Flight-to-quality, Fractional-reserve banking, Freddie Mac, Free silver, Global debt levels, Gold standard, Government debt, Great Depression, Great Trade Collapse, Hundred Years' War, Hyman Minsky, Hyperinflation, Hyun-Song Shin, Immanuel Wallerstein, Inclusive Democracy, IndyMac, Interest, International Monetary Fund, Japanese asset price bubble, Japanese yen, Jean Charles Léonard de Sismondi, Johann Ernst Gotzkowsky, John C. Coffee, John Maynard Keynes, John Stuart Mill, Karl Marx, Kenneth Rogoff, Keynesian beauty contest, Kiyotaki–Moore model, Kondratiev wave, Latin American debt crisis, Leendert Pieter de Neufville, Lehman Brothers, Lender of last resort, Leverage (finance), Liquidity crisis, Lombard Street: A Description of the Money Market, Long Depression, Macroprudential regulation, Markus Brunnermeier, Martin Eichenbaum, Medical debt, Mexican peso crisis, Mexican Weekend, Milton Friedman, Mississippi Company, MMM (Ponzi scheme company), Money market, Nash equilibrium, Nicola Acocella, Nikolai Kondratiev, Northern Rock, OECD, Overend, Gurney and Company, Panic of 1792, Panic of 1796–97, Panic of 1819, Panic of 1825, Panic of 1837, Panic of 1847, Panic of 1857, Panic of 1866, Panic of 1873, Panic of 1884, Panic of 1893, Panic of 1896, Panic of 1901, Panic of 1907, Panic of 1910–11, Paper wealth, Paul Krugman, PBS, Philip II of Spain, Positive feedback, Post-Keynesian economics, Princeton University Press, Profit (economics), Radio France Internationale, Rail transport, Real estate bubble, Recession, Refinancing, Reflexivity (social theory), Reserve requirement, Rogue trader, Roman Empire, Roy Dutton, Russian financial crisis (2014–2017), Samir Amin, Savings and loan crisis, Secondary banking crisis of 1973–75, Shanghai rubber stock market crisis, South Korea, South Sea Company, Sovereign default, Speculation, Speculative attack, Stephen Haber, Stephen Morris (game theorist), Stock, Stock market, Stock market crash, Strategic complements, Subprime mortgage crisis, Sudden stop (economics), Takis Fotopoulos, Tendency of the rate of profit to fall, The Panic of 1819 (book), The Return of Depression Economics and the Crisis of 2008, The Wall Street Journal, Transparency (market), Tulip mania, Turkish currency and debt crisis, 2018, United States, United States housing bubble, Virtuous circle and vicious circle, Wall Street Crash of 1929, Washington Consensus, World Bank, World-systems theory, 1973 oil crisis, 1973–74 stock market crash, 1983 Israel bank stock crisis, 1997 Asian financial crisis, 1998 Russian financial crisis, 1998–2002 Argentine great depression, 2000s energy crisis, 2001 Turkish economic crisis, 2007–08 world food price crisis, 2008–2011 Icelandic financial crisis. Expand index (152 more) »

A Monetary History of the United States

A Monetary History of the United States, 1867–1960 is a book written in 1963 by Nobel Prize–winning economist Milton Friedman and Anna J. Schwartz.

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Agent-based computational economics

Agent-based computational economics (ACE) is the area of computational economics that studies economic processes, including whole economies, as dynamic systems of interacting agents.

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Albanian Civil War

The Albanian Civil War, also known as the Albanian rebellion, Albanian unrest or the Pyramid crisis, was a period of civil disorder in Albania in 1997, sparked by Ponzi scheme failures.

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America's Great Depression

America's Great Depression is a 1963 treatise on the 1930s Great Depression and its root causes, written by Austrian School economist and author Murray Rothbard.

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American International Group

American International Group, Inc., also known as AIG, is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions.

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Amsterdam banking crisis of 1763

The Amsterdam banking crisis of 1763 in the Netherlands followed the end of the Seven Years' War.

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Andre Gunder Frank

Andre Gunder Frank (February 24, 1929 – April 23, 2005) was a German-American economic historian and sociologist who promoted dependency theory after 1970 and world-systems theory after 1984.

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Anna Schwartz

Anna Jacobson Schwartz (/ʃwɔːrts/; November 11, 1915 – June 21, 2012) was an American economist who worked at the National Bureau of Economic Research in New York City and a writer for the New York Times.

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Australian banking crisis of 1893

The 1893 banking crisis occurred in Australia when several of the commercial banks of the colonies within Australia collapsed.

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Austrian School

The Austrian School is a school of economic thought that is based on methodological individualism—the concept that social phenomena result from the motivations and actions of individuals.

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A bailout is a colloquial term for the provision of financial help to a corporation or country which otherwise would be on the brink of failure or bankruptcy.

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Bank Charter Act 1844

The Bank Charter Act 1844 (7 & 8 Vict. c. 32), sometimes referred to as the Peel Banking Act of 1844, was an Act of the Parliament of the United Kingdom, passed under the government of Robert Peel, which restricted the powers of British banks and gave exclusive note-issuing powers to the central Bank of England.

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Bank run

A bank run (also known as a run on the bank) occurs when a large number of people withdraw their money from a bank, because they believe the bank may cease to function in the near future.

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Bankruptcy is a legal status of a person or other entity that cannot repay debts to creditors.

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Baring crisis

The Baring crisis or the Panic of 1890 was an acute recession.

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Basel II

Basel II is the second of the Basel Accords, (now extended and partially superseded by Basel III), which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision.

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The British Broadcasting Corporation (BBC) is a British public service broadcaster.

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Bear Stearns

The Bear Stearns Companies, Inc. was a New York-based global investment bank, securities trading and brokerage firm that failed in 2008 as part of the global financial crisis and recession, and was subsequently sold to JPMorgan Chase.

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Behavioral economics

Behavioral economics studies the effects of psychological, cognitive, emotional, cultural and social factors on the economic decisions of individuals and institutions and how those decisions vary from those implied by classical theory.

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Ben Bernanke

Ben Shalom Bernanke (born December 13, 1953) is an American economist at the Brookings Institution who served two terms as Chairman of the Federal Reserve, the central bank of the United States, from 2006 to 2014.

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Bernard Madoff

Bernard "Bernie" Lawrence Madoff (born April 29, 1938) is an American former stockbroker, investment advisor, financier, and admitted fraudster.

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Bill Moyers Journal

Bill Moyers Journal was an American television current affairs program that covered an array of current affairs and human issues, including economics, history, literature, religion, philosophy, science, and most frequently politics.

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Black Friday (1869)

The Black Friday, September 24, 1869, gold panic was caused by the efforts of two speculators, Jay Gould and his partner James Fisk, (AKA The Gold Ring) to corner the gold market on the New York Gold Exchange.

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Black Monday (1987)

In finance, Black Monday refers to Monday, October 19, 1987, when stock markets around the world crashed.

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Black Wednesday

Black Wednesday occurred in the United Kingdom on 16 September 1992, when John Major's Conservative government was forced to withdraw the pound sterling from the European Exchange Rate Mechanism (ERM) after it was unable to keep the pound above its agreed lower limit in the ERM.

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Bubble Act

Bubble Act 1720 (also Royal Exchange and London Assurance Corporation Act 1719) was an Act of the Parliament of Great Britain passed on 11 June 1720 that incorporated the Royal Exchange and London Assurance Corporation, but more significantly forbade the formation of any other joint-stock companies unless approved by royal charter.

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Business cycle

The business cycle, also known as the economic cycle or trade cycle, is the downward and upward movement of gross domestic product (GDP) around its long-term growth trend.

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Byzantine Empire

The Byzantine Empire, also referred to as the Eastern Roman Empire and Byzantium, was the continuation of the Roman Empire in its eastern provinces during Late Antiquity and the Middle Ages, when its capital city was Constantinople (modern-day Istanbul, which had been founded as Byzantium).

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Capital flight

Capital flight, in economics, occurs when assets or money rapidly flow out of a country, due to an event of economic consequence.

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Capital requirement

Capital requirement (also known as regulatory capital or capital adequacy) is the amount of capital a bank or other financial institution has to hold as required by its financial regulator.

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Capitalism is an economic system based upon private ownership of the means of production and their operation for profit.

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Carmen Reinhart

Carmen M. Reinhart (née Castellanos, born October 7, 1955) is the Minos A. Zombanakis Professor of the International Financial System at Harvard Kennedy School.

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Centre for Economic Policy Research

The Centre for Economic Policy Research (CEPR) is a network of over 1100 researchers who are based mainly in universities throughout Europe and collaborate through CEPR in research and its dissemination.

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Charles Mackay (author)

Charles Mackay (27 March 1814 – 24 December 1889) was a Scottish poet, journalist, author, anthologist, novelist, and songwriter, remembered mainly for his book Extraordinary Popular Delusions and the Madness of Crowds.

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Charles P. Kindleberger

Charles Poor "Charlie" Kindleberger (October 12, 1910 – July 7, 2003) was an economic historian and author of over 30 books.

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Charles Ponzi

Charles Ponzi, (born Carlo Pietro Giovanni Guglielmo Tebaldo Ponzi; March 3, 1882 – January 18, 1949), was an Italian swindler and con artist in the U.S. and Canada.

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Complex system

A complex system is a system composed of many components which may interact with each other.

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Coordination game

In game theory, coordination games are a class of games with multiple pure strategy Nash equilibria in which players choose the same or corresponding strategies.

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Credit crunch

A credit crunch (also known as a credit squeeze or credit crisis) is a sudden reduction in the general availability of loans (or credit) or a sudden tightening of the conditions required to obtain a loan from banks.

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Credit default swap

A credit default swap (CDS) is a financial swap agreement that the seller of the CDS will compensate the buyer in the event of a debt default (by the debtor) or other credit event.

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Crisis of 1772

The crisis of 1772, also known as the credit crisis of 1772 or the panic of 1772, was a peacetime financial crisis which originated in London and then spread to other parts of Europe, such as Scotland and Netherlands.

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Crisis theory

Crisis theory, concerning the causes and consequences of the tendency for the rate of profit to fall in a capitalist system, is now generally associated with Marxian economics.

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Currency crisis

A currency crisis is a situation in which serious doubt exists as to whether a country's central bank has sufficient foreign exchange reserves to maintain the country's fixed exchange rate.

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Danish state bankruptcy of 1813

Denmark had been waging the Gunboat War since 1807.

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Debasement is the practice of lowering the value of currency.

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Deregulation is the process of removing or reducing state regulations, typically in the economic sphere.

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In modern monetary policy, a devaluation is an official lowering of the value of a country's currency within a fixed exchange rate system, by which the monetary authority formally sets a new fixed rate with respect to a foreign reference currency or currency basket.

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Diamond–Dybvig model

The Diamond–Dybvig model is an influential model of bank runs and related financial crises.

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Didier Sornette

Didier Sornette (born June 25, 1957 in Paris) is Professor on the Chair of Entrepreneurial Risks at the Swiss Federal Institute of Technology Zurich (ETH Zurich) since March 2006.

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Dionysius I of Syracuse

Dionysius I or Dionysius the Elder (Διονύσιος ὁ Πρεσβύτερος; c. 432367 BC) was a Greek tyrant of Syracuse, in what is now Sicily, southern Italy.

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Dominique Strauss-Kahn

Dominique Gaston André Strauss-Kahn (born 25 April 1949) is a French politician, former managing director of the International Monetary Fund (IMF), and a controversial figure in the French Socialist Party due to his involvement in several financial and sexual scandals.

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Dot-com bubble

The dot-com bubble (also known as the dot-com boom, the dot-com crash, the Y2K crash, the Y2K bubble, the tech bubble, the Internet bubble, the dot-com collapse, and the information technology bubble) was a historic economic bubble and period of excessive speculation that occurred roughly from 1997 to 2001, a period of extreme growth in the usage and adaptation of the Internet.

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Early 1990s recession

The early 1990s recession describes the period of economic downturn affecting much of the Western world in the early 1990s.

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Early 2000s recession

The early 2000s recession was a decline in economic activity which mainly occurred in developed countries.

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Economic bubble

An economic bubble or asset bubble (sometimes also referred to as a speculative bubble, a market bubble, a price bubble, a financial bubble, a speculative mania, or a balloon) is trade in an asset at a price or price range that strongly exceeds the asset's intrinsic value.

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Economic stagnation

Economic stagnation is a prolonged period of slow economic growth (traditionally measured in terms of the GDP growth), usually accompanied by high unemployment.

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An economy (from Greek οίκος – "household" and νέμoμαι – "manage") is an area of the production, distribution, or trade, and consumption of goods and services by different agents.

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Embezzlement is the act of withholding assets for the purpose of conversion (theft) of such assets, by one or more persons to whom the assets were entrusted, either to be held or to be used for specific purposes.

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European debt crisis

The European debt crisis (often also referred to as the Eurozone crisis or the European sovereign debt crisis) is a multi-year debt crisis that has been taking place in the European Union since the end of 2009.

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European Exchange Rate Mechanism

The European Exchange Rate Mechanism (ERM) was a system introduced by the European Economic Community on 13 March 1979, as part of the European Monetary System (EMS), to reduce exchange rate variability and achieve monetary stability in Europe, in preparation for Economic and Monetary Union and the introduction of a single currency, the euro, which took place on 1 January 1999.

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Extraordinary Popular Delusions and the Madness of Crowds

Extraordinary Popular Delusions and the Madness of Crowds is an early study of crowd psychology by Scottish journalist Charles Mackay, first published in 1841.

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Fannie Mae

The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company.

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Federal Bureau of Investigation

The Federal Bureau of Investigation (FBI), formerly the Bureau of Investigation (BOI), is the domestic intelligence and security service of the United States, and its principal federal law enforcement agency.

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Financial accelerator

The financial accelerator in macroeconomics is the process by which adverse shocks to the economy may be amplified by worsening financial market conditions.

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Financial crisis

A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value.

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Financial crisis of 2007–2008

The financial crisis of 2007–2008, also known as the global financial crisis and the 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s.

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Financial fragility

Financial Fragility is the vulnerability of a financial system to a financial crisis.

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Financial innovation

Financial innovation is the act of creating new financial instruments as well as new financial technologies, institutions, and markets.

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Financial stability

Financial stability is a property of a financial system that dissipates financial imbalances that arise endogenously in the financial markets or as a result of significant adverse and unforeseeable events.

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Finnish banking crisis of 1990s

The Finnish Banking Crisis of 1990s was a deep systemic crisis of the entire Finnish financial sector that took place mainly in the years 1991–1993, after several years of debt-based economic boom in the late 1980s.

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Fixed exchange-rate system

A fixed exchange rate, sometimes called a pegged exchange rate, is a type of exchange rate regime where a currency's value is fixed against either the value of another single currency, to a basket of other currencies, or to another measure of value, such as gold.

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A flight-to-liquidity is a financial market phenomenon occurring when investors sell what they perceive to be less liquid or higher risk investments, and purchase more liquid investments instead, such as US Treasuries.

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A flight-to-quality, or flight-to-safety, is a financial market phenomenon occurring when investors sell what they perceive to be higher-risk investments and purchase safer investments, such as US Treasuries or gold.

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Fractional-reserve banking

Fractional-reserve banking is the practice whereby a bank accepts deposits, makes loans or investments, but is required to hold reserves equal to only a fraction of its deposit liabilities.

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Freddie Mac

The Federal Home Loan Mortgage Corporation (FHLMC), known as Freddie Mac, is a public government-sponsored enterprise (GSE), headquartered in Tysons Corner, Virginia.

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Free silver

Free silver was a major economic policy issue in late 19th-century American politics.

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Global debt levels

World-wide debt, equity and equity-related issuance reached record-breaking levels in 2003 with over $5 trillion in proceeds raised, surpassing 2001’s record of $4.4 trillion.

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Gold standard

A gold standard is a monetary system in which the standard economic unit of account is based on a fixed quantity of gold.

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Government debt

Government debt (also known as public interest, public debt, national debt and sovereign debt) is the debt owed by a government.

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Great Depression

The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States.

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Great Trade Collapse

The Great Trade Collapse is a consequence of the 2008 financial crisis and happened between the third quarter of 2008 and the second quarter of 2009.

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Hundred Years' War

The Hundred Years' War was a series of conflicts waged from 1337 to 1453 by the House of Plantagenet, rulers of the Kingdom of England, against the House of Valois, over the right to rule the Kingdom of France.

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Hyman Minsky

Hyman Philip Minsky (September 23, 1919 – October 24, 1996) was an American economist, a professor of economics at Washington University in St. Louis, and a distinguished scholar at the Levy Economics Institute of Bard College.

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In economics, hyperinflation is very high and typically accelerating inflation.

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Hyun-Song Shin

Hyun Song Shin is a South Korean economic theorist and financial economist who focuses on global games.

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Immanuel Wallerstein

Immanuel Maurice Wallerstein (born September 28, 1930) is an American sociologist, historical social scientist, and world-systems analyst, arguably best known for his development of the general approach in sociology which led to the emergence of his world-systems approach.

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Inclusive Democracy

Inclusive Democracy (ID) is a project that aims for direct democracy; economic democracy in a stateless, moneyless and marketless economy; self-management (democracy in the social realm); and ecological democracy.

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IndyMac, a contraction of Independent National Mortgage Corporation, was an American bank based in California that failed in 2008 and was seized by the United States Federal Deposit Insurance Corporation (FDIC).

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Interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (i.e., the amount borrowed), at a particular rate.

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International Monetary Fund

The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., consisting of "189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1945 at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system.

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Japanese asset price bubble

The was an economic bubble in Japan from 1986 to 1991 in which real estate and stock market prices were greatly inflated.

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Japanese yen

The is the official currency of Japan.

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Jean Charles Léonard de Sismondi

Jean Charles Léonard de Sismondi (also known as Jean Charles Leonard Simonde de Sismondi) (9 May 1773 – 25 June 1842), whose real name was Simonde, was a historian and political economist, who is best known for his works on French and Italian history, and his economic ideas.

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Johann Ernst Gotzkowsky

Johann Ernst Gotzkowsky (21 November 1710 – 9 August 1775) was a Prussian merchant with a successful trade in trinkets, silk, taft, porcelain, grain and bills of exchange.

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John C. Coffee

John C. "Jack" Coffee, Jr. (born November 15, 1944) is the Adolf A. Berle Professor of Law at Columbia Law School and director of the Center on Corporate Governance at Columbia University Law School.

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John Maynard Keynes

John Maynard Keynes, 1st Baron Keynes (5 June 1883 – 21 April 1946), was a British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments.

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John Stuart Mill

John Stuart Mill, also known as J.S. Mill, (20 May 1806 – 8 May 1873) was a British philosopher, political economist, and civil servant.

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Karl Marx

Karl MarxThe name "Karl Heinrich Marx", used in various lexicons, is based on an error.

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Kenneth Rogoff

Kenneth Saul "Ken" Rogoff (born March 22, 1953) is an American economist and chess Grandmaster.

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Keynesian beauty contest

A Keynesian beauty contest is a concept developed by John Maynard Keynes and introduced in Chapter 12 of his work, The General Theory of Employment, Interest and Money (1936), to explain price fluctuations in equity markets.

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Kiyotaki–Moore model

The Kiyotaki–Moore model of credit cycles is an economic model developed by Nobuhiro Kiyotaki and John H. Moore that shows how small shocks to the economy might be amplified by credit restrictions, giving rise to large output fluctuations.

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Kondratiev wave

In economics, Kondratiev waves (also called supercycles, great surges, long waves, K-waves or the long economic cycle) are hypothesized cycle-like phenomena in the modern world economy.

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Latin American debt crisis

The Latin American debt crisis (Crisis de la deuda latinoamericana) was a financial crisis that originated in the early 1980s (and for some countries starting in the 1970s), often known as the "lost decade", when Latin American countries reached a point where their foreign debt exceeded their earning power and they were not able to repay it.

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Leendert Pieter de Neufville

Leendert Pieter de Neufville (Amsterdam, March 8, 1729Rotterdam, July 28, 1811) was a Dutch merchant and banker trading in silk, linen, grain.

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Lehman Brothers

Lehman Brothers Holdings Inc. (former NYSE ticker symbol LEH) was a global financial services firm.

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Lender of last resort

A lender of last resort (LOLR) is the institution in a financial system that acts as the provider of liquidity to a financial institution which finds itself unable to obtain sufficient liquidity in the interbank lending market and other facilities or sources have been exhausted.

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Leverage (finance)

In finance, leverage (sometimes referred to as gearing in the United Kingdom and Australia) is any technique involving the use of borrowed funds in the purchase of an asset, with the expectation that the after tax income from the asset and asset price appreciation will exceed the borrowing cost.

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Liquidity crisis

In financial economics, a liquidity crisis refers to an acute shortage (or "drying up") of liquidity.

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Lombard Street: A Description of the Money Market

Lombard Street: A Description of the Money Market (1873) is a book by Walter Bagehot.

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Long Depression

The Long Depression was a worldwide price and economic recession, beginning in 1873 and running either through the spring of 1879, or 1896, depending on the metrics used.

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Macroprudential regulation

Macroprudential regulation is the approach to financial regulation that aims to mitigate risk to the financial system as a whole (or "systemic risk").

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Markus Brunnermeier

Markus Konrad Brunnermeier (born March 22, 1969) is an economist, who holds the Edwards S. Sanford professorship at Princeton University.

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Martin Eichenbaum

Martin Stewart Eichenbaum (born August 23, 1954) is the Charles Moskos professor of Economics at Northwestern University, and the co-director of the Center for International Economics and Development.

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Medical debt

Medical debt refers to debt incurred by individuals due to health care costs and related expenses.

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Mexican peso crisis

The Mexican peso crisis was a currency crisis sparked by the Mexican government's sudden devaluation of the peso against the U.S. dollar in December 1994, which became one of the first international financial crises ignited by capital flight.

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Mexican Weekend

The Mexican Weekend marked the beginning of the Latin American debt crisis.

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Milton Friedman

Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy.

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Mississippi Company

The Mississippi Company (Compagnie du Mississippi; founded 1684, named the Company of the West from 1717, and the Company of the Indies from 1719) was a corporation holding a business monopoly in French colonies in North America and the West Indies.

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MMM (Ponzi scheme company)

МММ was a Russian company that perpetrated one of the world's largest Ponzi schemes of all time, in the 1990s.

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Money market

As money became a commodity, the money market became a component of the financial markets for assets involved in short-term borrowing, lending, buying and selling with original maturities of one year or less.

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Nash equilibrium

In game theory, the Nash equilibrium, named after American mathematician John Forbes Nash Jr., is a solution concept of a non-cooperative game involving two or more players in which each player is assumed to know the equilibrium strategies of the other players, and no player has anything to gain by changing only their own strategy.

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Nicola Acocella

Nicola Acocella (born 3 July 1939) is an Italian economist and academic, Emeritus Professor of Economic Policy since 2014.

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Nikolai Kondratiev

Nikolai Dmitriyevich Kondratiev (in some sources also referred as Kondratieff; Russian: Никола́й Дми́триевич Кондра́тьев; 4 March 1892 – 17 September 1938) was a Russian economist, who was a proponent of the New Economic Policy (NEP), which promoted small private, free market enterprises in the Soviet Union.

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Northern Rock

Northern Rock, formerly the Northern Rock Building Society, was a British bank.

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The Organisation for Economic Co-operation and Development (OECD; Organisation de coopération et de développement économiques, OCDE) is an intergovernmental economic organisation with 35 member countries, founded in 1961 to stimulate economic progress and world trade.

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Overend, Gurney and Company

Overend, Gurney & Company was a London wholesale discount bank, known as "the bankers' bank", which collapsed in 1866 owing about £11 million, equivalent to £ million in.

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Panic of 1792

The Panic of 1792 was a financial credit crisis that occurred during the months of March and April 1792, precipitated by the expansion of credit by the newly formed Bank of the United States as well as by rampant speculation on the part of William Duer, Alexander Macomb, and other prominent bankers.

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Panic of 1796–97

The Panic of 1796–1797 was a series of downturns in Atlantic credit markets that led to broader commercial downturns in both Great Britain and the United States.

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Panic of 1819

The Panic of 1819 was the first major peacetime financial crisis in the United States followed by a general collapse of the American economy persisting through 1821.

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Panic of 1825

The Panic of 1825 was a stock market crash that started in the Bank of England, arising in part out of speculative investments in Latin America, including the imaginary country of Poyais.

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Panic of 1837

The Panic of 1837 was a financial crisis in the United States that touched off a major recession that lasted until the mid-1840s.

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Panic of 1847

The Panic of 1847 was a minor British banking crisis associated with the end of the 1840s railway industry boom and the failure of many non-banks.

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Panic of 1857

The Panic of 1857 was a financial panic in the United States caused by the declining international economy and over-expansion of the domestic economy.

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Panic of 1866

The Panic of 1866 was an international financial downturn that accompanied the failure of Overend, Gurney and Company in London, and the corso forzoso abandonment of the silver standard in Italy.

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Panic of 1873

The Panic of 1873 was a financial crisis that triggered a depression in Europe and North America that lasted from 1873 until 1879, and even longer in some countries (France and Britain).

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Panic of 1884

The Panic of 1884 was a panic during the Depression of 1882-85.

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Panic of 1893

The Panic of 1893 was a serious economic depression in the United States that began in 1893 and ended in 1897.

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Panic of 1896

The Panic of 1896 was an acute economic depression in the United States that was less serious than other panics of the era, precipitated by a drop in silver reserves, and market concerns on the effects it would have on the gold standard.

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Panic of 1901

The Panic of 1901 was the first stock market crash on the New York Stock Exchange, caused in part by struggles between E. H. Harriman, Jacob Schiff, and J. P. Morgan/James J. Hill for the financial control of the Northern Pacific Railway.

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Panic of 1907

The Panic of 1907 – also known as the 1907 Bankers' Panic or Knickerbocker Crisis – was a United States financial crisis that took place over a three-week period starting in mid-October, when the New York Stock Exchange fell almost 50% from its peak the previous year.

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Panic of 1910–11

The Panic of 1910–1911 was a slight economic depression that followed the enforcement of the Sherman Anti-Trust Act.

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Paper wealth

Paper wealth means wealth as measured by monetary value, as reflected in the price of assets – how much money one's assets could be sold for.

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Paul Krugman

Paul Robin Krugman (born February 28, 1953) is an American economist who is currently Distinguished Professor of Economics at the Graduate Center of the City University of New York, and a columnist for The New York Times.

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The Public Broadcasting Service (PBS) is an American public broadcaster and television program distributor.

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Philip II of Spain

Philip II (Felipe II; 21 May 1527 – 13 September 1598), called "the Prudent" (el Prudente), was King of Spain (1556–98), King of Portugal (1581–98, as Philip I, Filipe I), King of Naples and Sicily (both from 1554), and jure uxoris King of England and Ireland (during his marriage to Queen Mary I from 1554–58).

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Positive feedback

Positive feedback is a process that occurs in a feedback loop in which the effects of a small disturbance on a system include an increase in the magnitude of the perturbation.

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Post-Keynesian economics

Post-Keynesian economics is a school of economic thought with its origins in The General Theory of John Maynard Keynes, with subsequent development influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor, Sidney Weintraub, Paul Davidson, Piero Sraffa and Jan Kregel.

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Princeton University Press

Princeton University Press is an independent publisher with close connections to Princeton University.

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Profit (economics)

In economics, profit in the accounting sense of the excess of revenue over cost is the sum of two components: normal profit and economic profit.

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Radio France Internationale

Radio France Internationale generally referred to by its acronym RFI, is a French public radio service that broadcasts in Paris and all over the world.

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Rail transport

Rail transport is a means of transferring of passengers and goods on wheeled vehicles running on rails, also known as tracks.

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Real estate bubble

A real estate bubble or property bubble (or housing bubble for residential markets) is a type of economic bubble that occurs periodically in local or global real estate markets, and typically follow a land boom.

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In economics, a recession is a business cycle contraction which results in a general slowdown in economic activity.

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Refinancing is the replacement of an existing debt obligation with another debt obligation under different terms.

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Reflexivity (social theory)

In epistemology, and more specifically, the sociology of knowledge, reflexivity refers to circular relationships between cause and effect, especially as embedded in human belief structures.

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Reserve requirement

The reserve requirement (or cash reserve ratio) is a central bank regulation employed by most, but not all, of the world's central banks, that sets the minimum amount of reserves that must be held by a commercial bank.

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Rogue trader

A rogue trader is an employee authorized to make trades on behalf of their employer (subject to certain conditions) who makes unauthorized trades.

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Roman Empire

The Roman Empire (Imperium Rōmānum,; Koine and Medieval Greek: Βασιλεία τῶν Ῥωμαίων, tr.) was the post-Roman Republic period of the ancient Roman civilization, characterized by government headed by emperors and large territorial holdings around the Mediterranean Sea in Europe, Africa and Asia.

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Roy Dutton

Air Commodore Roy Gilbert Dutton, (2 March 1917 – 14 September 1988) was a Royal Air Force officer and decorated flying ace.

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Russian financial crisis (2014–2017)

The financial crisis in Russia in 2014–2017 was the result of the collapse of the Russian ruble beginning in the second half of 2014.

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Samir Amin

Samir Amin (سمير أمين) (born 3 September 1931) is an Egyptian-French Marxian economist.

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Savings and loan crisis

The savings and loan crisis of the 1980s and 1990s (commonly dubbed the S&L crisis) was the failure of 1,043 out of the 3,234 savings and loan associations in the United States from 1986 to 1995: the Federal Savings and Loan Insurance Corporation (FSLIC) closed or otherwise resolved 296 institutions from 1986 to 1989 and the Resolution Trust Corporation (RTC) closed or otherwise resolved 747 institutions from 1989 to 1995.

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Secondary banking crisis of 1973–75

The secondary banking crisis of 1973–75 was a dramatic crash in British property prices that caused dozens of small ("secondary") lending banks to be threatened with bankruptcy.

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Shanghai rubber stock market crisis

Shanghai Rubber Stock Market Crisis (Chinese: 橡皮股票风潮), was an economic crisis caused by the bankers and stock-holders overstimulating the rubber stocks in Shanghai in 1910.

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South Korea

South Korea, officially the Republic of Korea (대한민국; Hanja: 大韓民國; Daehan Minguk,; lit. "The Great Country of the Han People"), is a country in East Asia, constituting the southern part of the Korean Peninsula and lying east to the Asian mainland.

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South Sea Company

The South Sea Company (officially The Governor and Company of the merchants of Great Britain, trading to the South Seas and other parts of America, and for the encouragement of fishing) was a British joint-stock company founded in 1711, created as a public-private partnership to consolidate and reduce the cost of national debt.

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Sovereign default

A sovereign default is the failure or refusal of the government of a sovereign state to pay back its debt in full.

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Speculation is the purchase of an asset (a commodity, goods, or real estate) with the hope that it will become more valuable at a future date.

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Speculative attack

In economics, a speculative attack is a precipitous acquisition of some assets (currencies, gold, emission permits, remaining quotas) by previously inactive speculators.

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Stephen Haber

Stephen H. Haber (born July 12, 1957) is a professor of political science and history known for his work on the political institutions and economic policies that promote innovation and improvements in living standards.

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Stephen Morris (game theorist)

Stephen Edward Morris is an economic theorist and game theorist especially known for his research in the field of global games.

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The stock (also capital stock) of a corporation is constituted of the equity stock of its owners.

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Stock market

A stock market, equity market or share market is the aggregation of buyers and sellers (a loose network of economic transactions, not a physical facility or discrete entity) of stocks (also called shares), which represent ownership claims on businesses; these may include securities listed on a public stock exchange as well as those only traded privately.

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Stock market crash

A stock market crash is a sudden dramatic decline of stock prices across a significant cross-section of a stock market, resulting in a significant loss of paper wealth.

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Strategic complements

In economics and game theory, the decisions of two or more players are called strategic complements if they mutually reinforce one another, and they are called strategic substitutes if they mutually offset one another.

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Subprime mortgage crisis

The United States subprime mortgage crisis was a nationwide banking emergency, occurring between 2007 and 2010, that contributed to the U.S. recession of December 2007 – June 2009.

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Sudden stop (economics)

A sudden stop in capital flows is defined as a sudden slowdown in private capital inflows into emerging market economies, and a corresponding sharp reversal from large current account deficits into smaller deficits or small surpluses.

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Takis Fotopoulos

Takis Fotopoulos (Τάκης Φωτόπουλος born October 14, 1940) is a political philosopher and economist who founded the Inclusive Democracy movement, aiming at a synthesis of classical democracy with libertarian socialism and the radical currents in the new social movements.

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Tendency of the rate of profit to fall

The tendency of the rate of profit to fall (TRPF) is a hypothesis in economics and political economy, most famously expounded by Karl Marx in chapter 13 of Capital, Volume III.

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The Panic of 1819 (book)

The Panic of 1819: Reactions and Policies is Murray Rothbard's 1962 work about what he calls the first great economic crisis of the United States.

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The Return of Depression Economics and the Crisis of 2008

The Return of Depression Economics and the Crisis of 2008 is a non-fiction book by American economist and winner of the Nobel Prize in economics Paul Krugman.

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The Wall Street Journal

The Wall Street Journal is a U.S. business-focused, English-language international daily newspaper based in New York City.

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Transparency (market)

In economics, a market is transparent if much is known by many about: What products and services or capital assets are available, market depth (quantity available), what price, and where.

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Tulip mania

Tulip mania (Dutch: tulpenmanie) was a period in the Dutch Golden Age during which contract prices for some bulbs of the recently introduced and fashionable tulip reached extraordinarily high levels and then dramatically collapsed in February 1637.

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Turkish currency and debt crisis, 2018

The Turkish currency and debt crisis of 2018 is an ongoing financial crisis in Turkey with international repercussions due to financial contagion.

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United States

The United States of America (USA), commonly known as the United States (U.S.) or America, is a federal republic composed of 50 states, a federal district, five major self-governing territories, and various possessions.

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United States housing bubble

The United States housing bubble was a real estate bubble affecting over half of the U.S. states.

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Virtuous circle and vicious circle

The terms virtuous circle and vicious circle (also referred to as virtuous cycle and vicious cycle) refer to complex chains of events that reinforce themselves through a feedback loop.

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Wall Street Crash of 1929

The Wall Street Crash of 1929, also known as Black Tuesday (October 29), the Great Crash, or the Stock Market Crash of 1929, began on October 24, 1929 ("Black Thursday"), and was the most devastating stock market crash in the history of the United States, when taking into consideration the full extent and duration of its after effects.

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Washington Consensus

The Washington Consensus is a set of 10 economic policy prescriptions considered to constitute the "standard" reform package promoted for crisis-wracked developing countries by Washington, D.C.–based institutions such as the International Monetary Fund (IMF), World Bank and United States Department of the Treasury.

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World Bank

The World Bank (Banque mondiale) is an international financial institution that provides loans to countries of the world for capital projects.

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World-systems theory

World-systems theory (also known as world-systems analysis or the world-systems perspective)Immanuel Wallerstein, (2004), "World-systems Analysis." In World System History, ed.

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1973 oil crisis

The 1973 oil crisis began in October 1973 when the members of the Organization of Arab Petroleum Exporting Countries proclaimed an oil embargo.

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1973–74 stock market crash

The 1973–74 stock market crash caused a bear market between January 1973 and December 1974.

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1983 Israel bank stock crisis

The Bank stock crisis was a financial crisis that occurred in Israel in 1983, during which the stocks of the four largest banks in Israel collapsed.

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1997 Asian financial crisis

The Asian financial crisis was a period of financial crisis that gripped much of East Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion.

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1998 Russian financial crisis

The Russian financial crisis (also called Ruble crisis or the Russian Flu) hit Russia on 17 August 1998.

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1998–2002 Argentine great depression

The 1998–2002 Argentine Great Depression was an economic depression in Argentina, which began in the third quarter of 1998 and lasted until the second quarter of 2002.

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2000s energy crisis

From the mid-1980s to September 2003, the inflation-adjusted price of a barrel of crude oil on NYMEX was generally under US$25/barrel.

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2001 Turkish economic crisis

Throughout the 1980s and 1990s, Turkey relied heavily on foreign investment for economic growth, with trade above 40% of GNP.

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2007–08 world food price crisis

World food prices increased dramatically in 2007 and the first and second quarter of 2008, creating a global crisis and causing political and economic instability and social unrest in both poor and developed nations.

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2008–2011 Icelandic financial crisis

The Icelandic financial crisis was a major economic and political event in Iceland that involved the default of all three of the country's major privately owned commercial banks in late 2008, following their difficulties in refinancing their short-term debt and a run on deposits in the Netherlands and the United Kingdom.

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Causes of financial crises, Crises (economic), Economic crises, Economic crisis, Economical crises, Financial Crises, Financial Crisis, Financial Panic, Financial crises, Financial market turmoil, Financial panic, Life Cycle of an Economic Crisis, Monetary crisis.


[1] https://en.wikipedia.org/wiki/Financial_crisis

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