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Hall of Mirrors: The Great Depression, the Great Recession, and the Uses—and Misuses—of History


Barry Eichengreen's new book Hall of Mirrors is a detailed, excellent, and somewhat pessimistic comparison of the two most serious financial crises ever—their causes, development, and consequences. Readers well versed in the comprehensive literature on the Great Depression and the Great Recession in the United States and Europe will not find much information in Hall of Mirrors that is completely new, but most others will. What is new is the comparative approach: the detailed and analytically successful search for similarities and differences between the Great Depression and the Great Recession.

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Per H. Hansen , “From Finance Capitalism to Financialization: A Cultural and Narrative Perspective on 150 Years of Financial History,” Enterprise & Society 15, no. 4 (2014): 605–42

Per H. Hansen , “Making Sense of Financial Crisis and Scandal: A Danish Bank Failure in the Era of Finance Capitalism,” Enterprise & Society 13, no. 3 (2012): 672706

Mads Mordhorst , “Arla and Danish National Identity: Business History as Cultural History,” Business History 56, no. 1 (2014): 116–33

Mads Mordhorst , “From Counterfactual History to Counter-Narrative History,” Management & Organizational History 3, no. 1 (2008): 526

Irving Fisher , “The Debt-Deflation Theory of Great Depressions,” Econometrica no. 1 (1933): 337–57

Barry Eichengreen and Peter Temin , “Fetters of Gold and Paper,” Oxford Review of Economic Policy 26, no. 3 (2010): 370–84

Mitchel Y. Abolafia , “Narrative Construction as Sensemaking: How a Central Bank Thinks,” Organization Studies 31, no. 3 (2010): 349–67

Stephanie Decker , Matthias Kipping , and R. Daniel Wadhwani , “New Business Histories! Plurality in Business History Research Methods,” Business History 57, no. 1 (2015): 3040

Roy Suddaby , William M. Foster , and Chris Quinn Trank , “Rhetorical History as a Source of Competitive Advantage,” in The Globalization of Strategy Research, ed. Joel A. C. Baum and Joseph Lampel  (Bingley, U.K., 2010), 147–73

Daniel Geiger and Elena Antonacopoulou , “Narratives and Organizational Dynamics: Exploring Blind Spots and Organizational Inertia,” Journal of Applied Behavioral Science 45, no. 3 (2009): 411–36

James Kwak , “Cultural Capture and the Financial Crisis,” in Preventing Regulatory Capture: Special Interest Influence and How to Limit It, ed. Daniel Carpenter and David A. Moss (Cambridge, Mass., 2013)

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Business History Review
  • ISSN: 0007-6805
  • EISSN: 2044-768X
  • URL: /core/journals/business-history-review
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