Darden dean, author of ‘Panic of 1907,‘ to speak at UR

Darden dean, author of 'Panic of 1907,' to speak at UR

History doesn't repeat itself, but it rhymes, Mark Twain is believed to have said.

That's true of financial crises, too, said Robert F. Bruner, dean of the University of Virginia's Darden School of Business in Charlottesville.

Through a careful exploration of one of the most significant crises in American history -- the financial panic of 1907 -- we can gain a better perspective on our current economic doldrums, he said.

Bruner will make his case at the University of Richmond on Wednesday at 7:30 p.m. in the Brown-Alley Room of Weinstein Hall. The address is 28 Westhampton Way in Richmond.

Parking and the lecture are free. It is not necessary to register. The contact number is (804) 289-8332.

Bruner wrote "The Panic of 1907," copies of which he will sign at the event.

He said the panic of 1907 produced one of the sharpest recessions in American history.

"It caused a wave of bankruptcies across the country. It threw many people out of work. It upset the normal course of business for even the strongest companies and householders."

Financial crises come and go, Bruner said. "There is virtually nothing we can do to stop them. All we can do is try to moderate the impact of the crisis.

"Households, businesses and governments should manage their affairs to expect a recurrence of crises," he said.

-- Iris Taylor