四十年后，查尔斯·金德尔伯格（Charles Kindleberger）将这一理论用到了全球金融体系中，强调了在全球范围由于缺乏协调一致的货币、财政和监管政策以及缺乏国际最后贷款人时全球经济可能出现的问题。
Forty years later, Charles Kindleberger applied the theory in a global context, emphasizing the problems that arise in a world lacking coordinated and consistent monetary, fiscal, and regulatory policies, as well as an international lender of last resort.