Summary Of Barry Eichengreen's Hall Of Mirrors

“Hall of Mirrors: The Great Depression, The Great Recession, and the Uses-and Misuses of History” by Barry Eichengreen is an analytical book that compares and analyzes the two biggest financial crisis in history; the Great Depression and the Great Recession. The author is one of the few people that has gone to such great lengths to both explained and speculated as to why things happened the way they did during the two crisis and how society learned from most of their mistakes during the Great Depression but repeated others. It provides the reader with some deep critical thoughts as to whether or not society is better equipped for another financial crisis or will history keep repeating itself?
The book was very well written, and informative for someone who had only the basic understanding of the two crisis, what
However, I think it is hard to react the correct way once the crisis is actually happening. The most effective way to prepare may be to make sure research is being done and use past information and data to come up with the best solution. However, it is also best to form a solution that works the best for the crisis that is happening rather then trying to fix it the same way that was done previously. Therefore, if another financial crisis ever occurs, people should recognize the similar patterns and use history to avoid repeating it. I believe we are more prepare for another crisis then we were in the past but we were never 100 percent be ready. Because although the crisis may be similar, they all are different which will require the crisis to have their own unique solution to solve the issue. Therefore, I came to the conclusion that it is hard to prepare for the unknown but that patterns do repeat themselves and as long as one makes smart and educated decisions, then we are indeed better prepared then we were in the