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Opinion
Justin Fox

Getting Through the Long Post-Crisis Hangover

As the effects of the financial crisis finally recede, so do our chances of another disaster. Or maybe not.
Why is everything still so fuzzy?
Photographer: STAN HONDA/AFP/Getty Images

While the financial crisis raged around them in 2008, economists Carmen N. Reinhart and Kenneth S. Rogoff were hard at work assembling historical tables and charts. In 2009 they published page after page after page of them in the wonky book “This Time Is Different: Eight Centuries of Financial Folly,” which became an unlikely bestseller.

The book’s basic message (other than wow, that's a lot of tables and charts!) can be summed up as: