Proposal preview

The Memory of Financial Crises across the Waves of Globalisation

It is usually assumed that financial markets have a short memory: crises are quickly forgotten and excessive risk-taking replaces caution as new business and profit opportunities arise, with the conviction that ‘this time is different’, to use Reinhart’s and Rogoff’s formula. Surprisingly, economists and economic historians have paid little attention to memory in their attempts to explain financial crises. This session is a first attempt to reflect on how and by whom financial crises have been remembered, why some have been remembered and others forgotten, and what use has been made of the memory of financial crises, whether for economic or political purposes. These are crucial questions to understand not only the causes and consequences of financial crises, but more generally how the financial system in which we live has been shaped. The papers in the session will take a broad view of the notion of memory and address a broad range of theoretical and methodological issues. Close attention will be paid to the mechanisms of transmission of memory within groups, from small communities to entire countries, including the impact of the digital revolution, with cases spanning the three main waves of globalisation.


  • Youssef Cassis, European University Institute, Florence, Italy,,
  • Catherine Schenk, University of Oxford,,

Session members

  • Victoria Barnes, Max-Planck-Institut für europäische Rechtsgeschichte,
  • Stefano Battilossi, University Carlos III, Madrid, Spain,
  • Jeffrey Fear, University of Glasgow,
  • Anna Knaps, European University Institute, Florence, Italy,
  • Mats Larsson, University of Uppsala, Sweden,
  • Kristina Lilja, University of Uppsala,
  • Carlos Marichal, Colegio di Mexico, Mexico,
  • Lucy Newton, University of Reading,
  • Laure Quennouëlle-Corre, CNRS, Paris, France,
  • Korinna Schönhärl, University of Duisburg-Essen,
  • Giuseppe Telesca, European University Institute, Florence, Italy,
  • Kazuhico Yago, Waseda University, Tokyo, Japan,

Proposed discussant(s)

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