Lessons from the financial preparations in the lead-up to the first world war

16 07 2014

by Harold James, 9 July 2014

Abstract: The 1907 panic affected the world, demonstrating the fragility of the international financial system. This column discusses the steps the US and Germany took in fortifying their financial systems following 1907. There is a link between the financial crisis and the escalation of diplomatic relations that led to war in 1914. And this link has implications for today as the world is recovering from the 2008 crisis.

Read the full article here.

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