SKU: 21037270977

Accounting for Crises

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Accounting for CrisesHistorians have not convincingly explained modern capitalism's two major economic crises, the Great Depression of the 1930s, and the Global Financial Crisis (GFC) of 2008 2009. Accounting for Crises offers a new explanation, why both began and were more severe in the USA ("America"), based on an accounting interpretation of Marx's theory of crises. It explains their origins in capitalists' control of accumulation, which reveals important overlooked

Historians have not convincingly explained modern capitalism's two major economic crises, the Great Depression of the 1930s, and the Global Financial Crisis (GFC) of 2008-2009. Accounting for Crises offers a new explanation, why both began and were more severe in the USA ("America"), based on an accounting interpretation of Marx's theory of crises. It explains their origins in capitalists' control of accumulation, which reveals important overlooked roles for Irving Fisher's accounting theory. This theory, by allowing discretion in accounts, in the context of falling rates of profit, encouraged "swindling", overstating reported profits, and understating their risk, which facilitated and aggravated both crises. Framed by Fisher's theory, during the 1920s American accounting theorists justified discretion, which Creating the "Big Mess" (the companion volume) concluded it management used to conservatively smooth earnings. Accounting for Crises shows that Fisher's theory, also underlays the popular new theory of investment that justified valuing shares using reported earnings, which encouraged their manipulation and legitimized "speculation". This, it argues, underlays America's exceptional late-1920s stock market boom, the 1929 Great Crash, and the depth and length of its Great Depression. Prominently associated with the boom, Fisher became unpopular after the crash, his name disappearing from public debate. Nevertheless, the book concludes, his theory hindered economic recovery, weakened 1930s reforms, undermined accounting regulation from the late-1930s, and following his rehabilitation from the late-1950s, underlies the Financial Accounting Standards Board's conceptual framework, which by allowing off-balance-sheet accounting for securitization-SPEs, fostered the 2007 "credit crunch" that triggered the 2008-2009 Global Financial Crisis (GFC).

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SKU: 21037270977

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4.6 ★★★★★
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Erin sumner
Waukegan, US
★★★★★ 5
Perfect for a 6 year old.
Format: Paperback
Grandson turned 6 and he absolutely loved it. Best reaction to it ever.
WAS THIS REVIEW HELPFUL?YesReportShare
Reviewed in the United States on April 19, 2026
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RosanneP
Carnegie, US
★★★★★ 5
Quick, fun read
Format: Kindle
I purchased this because my son and I have been raising 2 albino axolotls since 2022. The illustrations are very cute and well done. The story includes a few characters and even though it's so short, there is clear character development. I would recommend this for children under the age of 8 to be read to. With repetition, they will easily be able to read this book (apart from those with reading challenges). My 12 year old read it through in one sitting and added his own unique reading style to it which was really funny. I wouldn't recommend reading this on a small screen as the font is small.
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Reviewed in the United States on October 20, 2025
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Person who likes to read theology
Grantham, US
★★★★★ 4
pretty good
Format: Kindle
It was pretty good over all but I think it could have more excitement But I think you readers will like it
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Reviewed in the United States on April 8, 2026
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Amazon Customer
Port Orchard, US
★★★★★ 5
Mi hijo de 7 años lo ama
Format: Paperback
Mi hijo lo lee y lo relee, le encantó!
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Reviewed in the United States on February 17, 2026
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Ben
Carnegie, US
★★★★★ 5
Great Start
Format: Hardcover
My 9 year old doesn’t like reading. When it’s time for him to read to us, this is his go to book. Chapter books are a bit intimidating for him. He is eager to read about Max and is wanting to ready without us asking. We are looking forward to book 2.
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Reviewed in the United States on November 24, 2025

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