This Time Is Different

Kenneth Rogoff, a Thomas D. Cabot Professor of Public Policy and professor of economics at Harvard University, looks at the current recession in context of centuries of financial meltdowns. This Time Is Different: Eight Centuries of Financial Folly, written with Carmen Reinhart, shows that throughout history, rich and poor countries alike have been lending, borrowing, crashing—and recovering—their way through an extraordinary range of financial crises.