Argues that the Panic of 1819 was America's first experience with a modern boom-bust cycle, and most importantly, much more than a banking panic resulting from

The Panic of 1819 tells the story of the first nationwide economic collapse to strike the United States. Much more than a banking crisis or real estate bubble,

For a while, it seemed impossible to lose money on real estate. But then the bubble burst. The financial sector was paralyzed and the economy contracted. State