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Monetary Chaos in Europe

In March of this year Routledge Revivals reissued Monetary Chaos in Europe as a Hardback. First published in 1988, the book is also set to be released in June 2012 in paperback form. Author Brendan Brown revisits his early work and discusses why this is an important reissue.

The purpose of this volume has grown, not withered, over the quarter century since it first appeared.

The author seeks to put the reader in the position of an investor during the global financial turmoil of the years 1914-31. What were the scenarios – geopolitical and monetary – that could be imagined and are they efficiently priced in markets?

The years 1914-31 are rich in trauma, including the outbreak of World War 1, the war itself, the break-up of the Austrian-Hungarian monetary and political union, German hyperinflation, and the global credit bubble-and-bust of 1925-31. The episodes into which the reader is drawn are rich in parallel with problems of the modern day – geo-political risk, monetary union breakdown, and monetary chaos.

The saying is that wisdom comes from age. This book has a different rationale. Financial wisdom stems from knowing that there is nothing totally new and that much can be learned from putting oneself in the shoes of pervious generations of investors, re-running the kaleidoscope of scenarios which they perceived at crisis points.

In his reconstruction work, Brendan Brown has undertaken extensive research into the financial press in the various European countries, seeing this as a prime clue to the mood in markets at the time. The findings will interest not just economists and financial specialists, but also readers keen to improve their understanding of the political and social events of the period.

Click here for more information and to order your copy today!

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