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Do the Answers to Our Current Financial Woes Lie in the Past?

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Bad debt. Frozen credit. Stock market panic. Popular outrage. Political paralysis. The financial crisis that has dominated September's headlines may feel unprecedented to many Americans. But it feels altogether familiar to scholars who have examined the economies of other nations around the world that have undergone recent banking crises. During a panel discussion held the day after the Dow Jones Industrial Average plunged a record 777 points, Wharton and University of Pennsylvania faculty offered their views on what the United States can learn from the past tribulations of markets as diverse as Japan, Mexico and Turkey.

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