From Black Monday to the Asian financial crisis, from the internet bubble to mortgage meltdown, our lives are ruled by crazy cycles of euphoria and hysteria that manage to grip the world but are all-too-soon forgotten.
In this unique collection of articles Michael Lewis - ex-trader and bestselling chronicler of greed and frenzy in the markets - casts a sceptical eye back over the most panicked-about panics of recent decades. He tells a story of boom and bust, deranged greed, outsized egos and over-inflated salaries, where the only thing that can ever be predicted is our constant inability to predict anything.
Using contemporary accounts from commentators such as Joseph Stiglitz, Jeffrey Sachs and Paul Krugman, plus many of his own best writings, Michael Lewis gives us a completely new insight into how markets really operate - and who really knows what they're talking about.
William Goodlad, Allen Lane Editorial Director, on Panic!:
'What's the appeal of Panic!? It explains how we got here - a culmination of twenty years of financial insanity - but it does so in a uniquely original way. Agreed, unique is a big claim. But every other book that we're going to read about this mess from now on will be awash with hindsight. And, although Panic! was conceived with hindsight, it offers a unique - and sobering and entertaining - perspective by compiling writings from before, during and after all the recent calamities. Who really knows what they're talking about? Michael Lewis is a good place to start.'