The Panic of 1907: Lessons Learned from the Market's Perfect Storm
Robert F. Bruner and Sean D. Carr, THE PANIC OF 1907: LESSONS FROM THE MARKET'S PERFECT STORM, New York: John Wiley & Sons, 2007
14 Pages Posted: 17 Sep 2007
This paper, which is the introductory chapter in our book, "The Panic of 1907: Lessons Learned from the Market's Perfect Storm", from John Wiley & Sons, sketches the events of the panic and outlines seven drivers of financial crises. These drivers are apparent in this specific crisis, and they have been identified in research: 1) system complexity; 2) buoyant growth; 3) inadequate slack; 4) adverse leadership; 5) cognitive biases; 6) real economic shock; and 7) failure of collective action.
The downloadable document contains the table of contents and introductory chapter.
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