The credit crunch of 1294: Causes, consequences & aftermath

[Green_Bear]

The credit crunch of 1294: Causes, consequences and the aftermath
Adrian R. Bell Chris Brooks Tony Moore, 13 May 2009
voxeu.org/index.php?q=node/3563

It is widely believed that the current credit squeeze, leading to bank failures, is a modern phenomenon arising from the interplay of a historically unique set of circumstances that could not have been foreseen. But a team of academics – a finance professor and two medieval historians – at the University of Reading’s ICMA Centre has documented a medieval credit crunch that bears remarkable parallels with the current crisis.

[provost]

so it would be better for our kids if we took the pain of higher taxes now rather than do quantitative easing?