The Woodward Report: The Boom & Bust Boomerang

Kenneth S. Rogoff discusses his book, This Time is Different: Eight Centuries of Financial Folly and talks about why the financial crisis will happen again.(Kenneth S. Rogoff, Carmen M. Reinhart, IMF, financial crisis, This Time is Different, The Woodward Report )

It is not everyday that a book analyzing the quantitative history of financial crises becomes a bestseller, but Kenneth S. Rogoff's latest book has done just that. Rogoff and Co-Author Carmen M. Reinhart have collected data from all over the world and a period spanning 800 years in this masterpiece of modern economic literature. Their data shows that crises are both cyclical and, to a large degree, predictable.

We caught up with Rogoff in Copenhagen, who told us that work on the book began long before the sub-prime financial crisis began to roll and that there is every reason to believe another crisis is on the way in the future. At least if you look at the data.
 
For those hoping to understand how to spot a looming crisis and better understand the repercussions of global economics, This Time is Different is a book for the ages - for scholars, investors and the intellectually curious.

For reviews and more on the book, visit the following links:
From The New York Times
From the Wall Street Journal
From BusinessWeek

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