> ------------ EH.NET BOOK REVIEW --------------
> Published by EH.NET (April 2010)
>
> Carmen M. Reinhart and Kenneth S. Rogoff, _This Time is Different:
> Eight Centuries of Financial Folly_.  Princeton, NJ: Princeton
> University Press, 2009.  xlv + 463 pp. $35 (hardcover), ISBN:
> 978-0-691-14216-6.
>
> Reviewed for EH.NET by Richard Sylla, Department of Economics, Stern
> School of Business, New York University.
>
> Taking away the punch bowl just when the party is getting good is a
> thankless task.  It may, however, be a needed task if we are to
> mitigate or avoid the crisis carnage so amply documented in _This Time
> Is Different_.


I wonder why Sylla thinks that the punchbowl is needed in the first place.

Michael Perelman
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