The Panic of 1857 in the absence of a National Bank
Research on financial crises is important and especially relevant nowadays when the economy is slowing down globally. The crisis 2007-8 and the Great Depression of the 20th century are the longest and most severe financial calamities ever experienced and they share some eerie similarities with the Panic of 1857 – they all originate in the US but have international implications because they take pl
