This Time Is Different Audiobook By Carmen Reinhart, Kenneth Rogoff cover art

This Time Is Different

Eight Centuries of Financial Folly

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This Time Is Different

By: Carmen Reinhart, Kenneth Rogoff
Narrated by: Sean Pratt
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About this listen

Throughout history, rich and poor countries alike have been lending, borrowing, crashing - and recovering - their way through an extraordinary range of financial crises. Each time, the experts have chimed, "this time is different" - claiming that the old rules of valuation no longer apply and that the new situation bears little similarity to past disasters. This book proves that premise wrong.

Covering 66 countries across five continents, This Time Is Different presents a comprehensive look at the varieties of financial crises, and guides us through eight astonishing centuries of government defaults, banking panics, and inflationary spikes - from medieval currency debasements to today's subprime catastrophe.

Carmen Reinhart and Kenneth Rogoff, leading economists whose work has been influential in the policy debate concerning the current financial crisis, provocatively argue that financial combustions are universal rites of passage for emerging and established market nations. The authors draw important lessons from history to show us how much - or how little - we have learned. Using clear, sharp analysis and comprehensive data, Reinhart and Rogoff document that financial fallouts occur in clusters and strike with surprisingly consistent frequency, duration, and ferocity. They examine the patterns of currency crashes, high and hyperinflation, and government defaults on international and domestic debts - as well as the cycles in housing and equity prices, capital flows, unemployment, and government revenues around these crises.

While countries do weather their financial storms, Reinhart and Rogoff prove that short memories make it all too easy for crises to recur. This Time Is Different exposes centuries of financial missteps.Download the accompanying reference guide.©2009 Carmen M. Reinhart and Kenneth Rogoff (P)2009 Gildan Media Corp
Economic History Great Recession Thought-Provoking Inspiring Global Financial Crisis Interest rate US Economy Export Economic inequality

Critic reviews

" This Time Is Different doesn't simply explain what went wrong in our most recent crisis. This book also provides a roadmap of how things are likely to pan out in the years to come.... This Time Is Different is an important addition to the literature of financial history." ( Wall Street Journal)

What listeners say about This Time Is Different

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  • Overall
    4 out of 5 stars

Good Material; Bad Format - 3 1/2 Stars

This material is 5-star excellent with good narration, but you should buy the physical book as there are many references to charts and tables, so the format gets 2 stars. I listen to audiobooks during my daily commute, so I did not get to see the material referenced.

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3 people found this helpful

  • Overall
    3 out of 5 stars

Research Paper

This is really a research paper put into book form. It is filled with important information. But this is very difficult to present as an audio book.

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1 person found this helpful

  • Overall
    3 out of 5 stars

Long on Data, Short on Conclusions

This book is essentially a description of the massive data set these two researchers have compiled that will serve as the basis of hundreds of papers and inquiries. If you expect more, you'll be disappointed.

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  • Overall
    3 out of 5 stars
  • Performance
    1 out of 5 stars
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    2 out of 5 stars

I need the charts!!!!

Any additional comments?

Great book but have to have the charts and tables in hand to be able to follow.

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  • Overall
    4 out of 5 stars

Not *that* bad as an audiobook

I have read the negative comments about the audiobook and although I can understand them I don't entirely agree. The audio is quite sufficient to present the main points of the author's arguments and these are very interesting. I will probably buy the paper book also, but the audio is no waste of money. For me it was a relatively cheap and quick way to sample the book.

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  • Overall
    3 out of 5 stars
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    4 out of 5 stars
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    3 out of 5 stars

Too many tables and figures for an audiobook.

The contents are understandable without access to the oft referenced tables; however, a reader has a listener at a disadvantage in terms of a more profound understanding.

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  • Overall
    4 out of 5 stars
  • Performance
    5 out of 5 stars
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    4 out of 5 stars

Deep understanding of the world economy

Would you recommend this audiobook to a friend? If so, why?

I would recommend the book because it give a great foundation to understanding the role governments have and will play in the manipulation of the world economy and gives an understanding that this has been done for thousands of years.

Did you have an extreme reaction to this book? Did it make you laugh or cry?

No

Any additional comments?

The book really needs to be listened to with the tables and graphs available. Sometime difficult to follow without the visual representations.

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  • Overall
    3 out of 5 stars
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    1 out of 5 stars
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    1 out of 5 stars

It's Just a Long Series of Descriptions of Charts

I think writing on financial crisis can be interesting like Charles P. Kindleberger's Manias, Panics, and Crashes or Charles Mackay's Extraordinary Popular Delusions and the Madness of Crowds. But this requires setting of the historical scene and character development and a humanistic look at bygone times. This isn't at all what Reinhart and Rogoff are trying to do in This Time Is Different. They offer a 5000 mile view of what hundreds of these sorts of financial disasters have in common using a universalist perspective and all set in a dry pedestrian prose. They have some interesting insights but it doesn't make for fun listening. Most of the audiobook consists of just elaborating on the graphs. I can see the graphs but don't you have some interesting historical insights to add? They pointlessly cite past economists for having written some paper on obvious things that don't require any citations. They annoyingly repeat the book's title way too many times along with the trite idea rehashed from all the other financial crisis books about which they don't have anything more interesting to say. They keep calling the current crisis we're in as the Second Great Contraction and use their strange, newly coined phrase excessively. Like most economists they have too high an opinion of their own limited findings and their field of study in general. I could go on...the whole thing is excruciatingly painful to listen to.

The careless reading by Sean Pratt didn't help. All his many small misreadings are too numerous to list. The most glaring was that he read the probability of x, P(x), as "P meaning that x."

This isn't something to enjoy on your morning commute but something to help you through a difficult book if it were required reading in an economics class.

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  • Overall
    3 out of 5 stars

Interesting - but a little dry.

Although the information was interesting, it reads like text book.
I almost gave up a few times because it was too dry.

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2 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

The Audio Book it's great

What made the experience of listening to This Time Is Different the most enjoyable?

I was a bit scare because of the bad reviews of the Audio book.... I have the Ebook version as well so I wanted the audio book just to complement my reading and I decided to took my chances ... I was really surprised , but the audio book is just Great , it does not review the tables or graphics in detail, just the important stuff that the written part of the book mention.... but thats the way an audio book should describe graphics or tables! The audio book is great, but it's even greater to complement your reading ... You cant read a book with this level of statistic just with an audio book ... that just wont fit any statistical book! Great Audio Piece!

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