Tag Archives: Thomas Herdon

BOOK REVIEW : “This Time is Different: Eight Centuries of Financial Folly” by Carmen M. Reinhart & Kenneth S. Rogoff (2011)

This Time is Different: Eight Centuries of Financial FollyA few weeks ago this book would have been read quickly, given an A+ with a little gold star and a request from the teacher for a “Show and Tell” from two of her best pupils. Thomas Herdon, a graduate student at the University of Massachusetts, Amherst has dented the myth though by identifying the errors in their calculation. This has coincided with increasing criticisms of the current policies even in academic circles. Mark Blyth at Brown University has just published “Austerity: The History of a Dangerous Idea.” In this context, “This Time is Different” is certainly worth another critical read.

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