Crisis: 1520-2021

This book aims to survey the history of world crises since 1520, mainly economic, financial, fiscal, and currency crises. It is not a general history of the world during this period. Crises are therefore the book's focus and central thread, while the history surrounding them provides the framework. This structure means that the book's approach differs from that of a conventional general history or a brief history of a single country.

First, to explore in depth the causes and connections surrounding each crisis, the book must choose certain historical events as background. It examines dozens of global crises over the past five hundred years within a historical framework encompassing wars, plagues, currency, technology, geopolitics, globalization, international order, markets, and bubbles (financial, stock market, and real estate). This approach shows that these crises are not isolated events without connection, but are closely related. It helps us understand that crises are an economic phenomenon that erupts periodically.

Second, with "crisis" as its central thread, the book seeks to uncover the logic behind each crisis. This makes it possible to select relevant historical background rather than recounting events strictly in chronological order. The periods assigned to each section are therefore only approximate. Some chapters go beyond their designated period for the sake of structure and logic, as in Part Three.

Finally, this approach avoids simply compiling and piling up accounts of these crises. Instead, it presents a series of engaging stories and case studies. Through them, readers can see the true nature of crises and draw lessons from them.