Oskar Lange was one of the few economists able to observe first hand the three major economic systems that have been the hallmark of the 20th century. He learned about the economic backwardness of peripheral capitalism in pre-war Poland. Later he spent more than twelve years in the bastion of...

The Economics of Financial Markets and the 1987 Crash is the first thorough and systematic account of the antecedents and economic consequences of the stock market crash of 1987 in the world’s major financial centres.

These authoritative volumes present the most important published work on the theory and incidence of financial fragility in the financial markets, and policy for dealing with fragility. The volumes cover the recent central bank discussions about financial fragility and models simulating...