Updates

  1. Person pages list letters, writing, profiles and links as sortable tables with filters, and show each person's companies as links; Fund letters show each letter's description in its own column.
  2. Experts show a checked job title and a short description of each person; 30 more people have photographs.
  3. Every company, fund, university and publication the experts work for has a page listing the people there.
  4. Fund letters show each letter's thesis and filter by it; 225 person pages list the essays, columns and newsletter issues the person wrote.
  5. Person pages list every essay and newsletter issue a person wrote, and their own books as a table in List view.
  6. Recommends shows the five largest kinds of book and the rest under More; browse pictures load sooner.
  7. Podcasts and talks link the original episode, filter by Audio and video or Press, and list each publisher once.
  8. Pages are wider, Recommends has List and Grid, and a filter clicked again turns off.
  9. Book cards sit in a ruled grid with Open Library and Goodreads links and each book's one-line note.
  10. Funds is now Investors; each investor's styles are buttons that filter the table.
  11. Podcasts and talks on a person's page filter by year and publisher and show as a list or a grid of pictures.
  12. Quotes show only people's own words: 472 summaries written by list sites are gone.
  13. Country pages open from Browse again, and every link on the shelf lands on a page.
  14. Subject and person pages show their sections as tabs, and each book appears once on a person's page.
  15. Book cards show the quote, who said it and the source; grids show five cards to a row.
  16. On a phone, a menu holds the sections, search, Updates, Feedback and dark mode.
  17. Feedback takes a screenshot of the page with no browser prompt, opens a screenshot full size when you click it, and clears itself once sent.
  18. Book cards are centred, search names the topic each book sits in, and any text cut short shows whole on hover.
  19. Search groups its results by kind: people, companies, geographies, subjects, topics, books, funds, fund letters and papers.
  20. The Books table lists who recommended each book by name, and the browser tab names the section you are in.
  21. Feedback can take a screenshot of the page, or one you paste or choose, and opens in the corner beside Updates.
  22. Each rail button reopens its section where you left it, and Browse, Table and People show on every book and subject page.
  23. Filters grey out choices that hold nothing instead of hiding them, and Books › People filters by authors or recommenders.
  24. Feedback takes a subject line and up to three screenshots.
  25. Biographies are grouped by the person they are about: 41 new pages, from Abraham Lincoln to Lee Kuan Yew.
  26. Sport splits into 23 sports, and Religion into one topic per faith.
  27. Book lists show as cards: the cover, one recommendation quote and every recommender by name.
  28. Seventeen subjects that had two or three pages under different names now have one page each.
  29. Every page lists its Experts as authors and recommenders, with a link to them on the Experts tab.
  30. Economics, Financial history, Financial panics and Accounting are subjects of their own, with one page per financial crisis.
  31. Book, person and subject pages open inside the app, so the tabs stay in view.
  32. 996 more book covers, and photographs or logos for 227 more people and companies.
  33. Books › Browse shows every subject as cards, and the rail holds Fund letters, Papers, Experts, Books and Funds.
  34. Every topic over 150 books splits into narrower topics, each with a page of its own.

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Financial crises, debt and business cycles

Economics

Accounts of the Great Depression, the 2008 crisis and sovereign debt crises, and theories of how debt and business cycles drive booms and busts.

Books 24Experts 6Recommenders 12

Start here

  1. The World in Depression, 1929-1939Charles P. Kindleberger, 1973
  2. Essays on the Great DepressionBen S. Bernanke, 2000
  3. Crisis EconomicsNouriel Roubini, Stephen Mihm, 2010
  4. Fault LinesRaghuram G. Rajan, 2010
  5. House of DebtAtif Mian, Amir Sufi, 2014
The World in Depression, 1929-1939The World in Depression, 1929-1939
T1 The World in Depression, 1929-1939
Charles P. Kindleberger · 1973
Open LibraryGoodreads

The Depression ran deep because no country would act as the world's stabiliser.

Essays on the Great DepressionEssays on the Great Depression
T2 Essays on the Great Depression
Ben S. Bernanke · 2000
Open LibraryGoodreads

Papers on the Depression's causes, from the gold standard to failing banks.

Crisis EconomicsCrisis Economics
T2 Crisis Economics
Nouriel Roubini, Stephen Mihm · 2010
Open LibraryGoodreads

Financial crises are normal, not freak events, and the reforms they call for.

Fault LinesFault Lines
T2 Fault Lines
Raghuram G. Rajan · 2010
Open LibraryGoodreads

The 2008 crisis grew from political and economic imbalances, not just banker greed.

House of DebtHouse of Debt
T2 House of Debt
Atif Mian, Amir Sufi · 2014
Open LibraryGoodreads

County data showing household debt, not the banks, caused the Great Recession.

Hall of MirrorsHall of Mirrors
T2 Hall of Mirrors
Barry Eichengreen · 2015
Open LibraryGoodreads

How 1930s lessons guided policy in 2008, averting a depression but adding errors.

Big Debt CrisesBig Debt Crises
T2 Big Debt Crises
Ray Dalio · 2018
Open LibraryGoodreads

A template for how big debt crises unfold, with detailed case studies.

CrashedCrashed
T2 Crashed
Adam Tooze · 2018
Open LibraryGoodreads

The 2008 crash, the eurozone crisis and the politics after as one connected story.

In Defense of Public DebtIn Defense of Public Debt
T2 In Defense of Public Debt
Barry Eichengreen, Asmaa El-Ganainy, Rui Esteves, Kris James Mitchener · 2021
Open LibraryGoodreads

Sovereign borrowing from Italian city-states to the pandemic, and what it paid for.

America's Great DepressionAmerica's Great Depression
T3 America's Great Depression
Murray N. Rothbard · 1963
Open LibraryGoodreads

The Austrian account of 1929 and the policy response that followed

“It's a timeless and timely classic.” — Christopher Bloomstran

Source: Semper Augustus 2020 Letter to Clients, 'To Read or Not to Read', p. 57

Recommended by: Christopher Bloomstran, Mohnish Pabrai

Business CyclesBusiness Cycles
T4 Business Cycles
Joseph A. Schumpeter · 1939
Open LibraryGoodreads

Recommended by: Jack Ma

Economist on Wall StreetEconomist on Wall Street
T4 Economist on Wall Street
peter l. bernstein · 1970
Open LibraryGoodreads
Business Cycles: History, Theory and InvestmBusiness Cycles: History, Theory and Investment Reality
T4 Business Cycles: History, Theory and Investment Reality
Lars Tvede · 1997
Open LibraryGoodreads

The history of business cycle theory and how credit cycles drive asset prices.

The Crisis of Global CapitalismThe Crisis of Global Capitalism
T4 The Crisis of Global Capitalism
George Soros · 1998
Open LibraryGoodreads
Technological Revolutions and Financial CapiTechnological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages
T4 Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages
Carlota Perez · 2002
Open LibraryGoodreads

Five technological revolutions since 1771, and why each brings a financial bubble.

“Perhaps the best book on the topic is Carlota Perez, Technological Revolutions and Financial Capital” — Michael Mauboussin

Source: New Business Boom and Bust: How Capitalism Experiments (Consilient Observer, Counterpoint Global)

Recommended by: Michael Mauboussin, Patrick Collison

The Holy Grail of Macroeconomics: Lessons frThe Holy Grail of Macroeconomics: Lessons from Japan's Great Recession
T4 The Holy Grail of Macroeconomics: Lessons from Japan's Great Recession
Richard C. Koo · 2008
Open LibraryGoodreads

Balance-sheet recessions: firms repay debt instead of borrowing, so rate cuts fail.

Recommended by: Mohnish Pabrai

This Time Is DifferentThis Time Is Different
T4 This Time Is Different
Carmen M. Reinhart, Kenneth S. Rogoff · 2009
Open LibraryGoodreads

Eight centuries of defaults and banking crises show the same patterns recurring.

Recommended by: Mohnish Pabrai and 3 others

Beyond the CrashBeyond the Crash
T4 Beyond the Crash
Gordon Brown · 2010
Open LibraryGoodreads

Recommended by: Bill Gates

Confidence MenConfidence Men
T4 Confidence Men
Ron Suskind · 2011
Open LibraryGoodreads

Recommended by: Nir Eyal

Financial Turmoil in Europe and the United SFinancial Turmoil in Europe and the United States
T4 Financial Turmoil in Europe and the United States
George Soros · 2012
Open LibraryGoodreads
Principles for Navigating Big Debt CrisesPrinciples for Navigating Big Debt Crises
T4 Principles for Navigating Big Debt Crises
Ray Dalio · 2018
Open LibraryGoodreads

Free PDF at economicprinciples.org; first issued as A Template for Understanding Big Debt Crises.

Recommended by: Ray Dalio

How Countries Go Broke: The Big CycleHow Countries Go Broke: The Big Cycle
T4 How Countries Go Broke: The Big Cycle
Ray Dalio · 2025
Open LibraryGoodreads
Manias, Panics, and CrashesManias, Panics, and Crashes
T4 Manias, Panics, and Crashes
Charles P. Kindleberger · 1996
Open LibraryGoodreads

Financial crises follow a repeated sequence of boom, mania, panic and crash.

Recommended by: Howard Marks, Li Lu

Predicting the Markets of Tomorrow: A Contra
T4 Predicting the Markets of Tomorrow: A Contrarian Investment Strategy for the Next Twenty Years
James P. O'Shaughnessy
Goodreads

Why large growth stocks would lag for twenty years, and what to hold instead.

Recommended by: Mohnish Pabrai

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