Given that I have come to the end of my free banking posts, I thought that I would plug Larry White's new book, which is published at the end of March - click here. You can find working paper versions of some chapters here. This book looks at the great economic policy debates and experiments of the last century from Lary's unique perspective. Larry talks about his book in the interview below.
My colleague and former PhD student Gareth Campbell has created a website about the British Railway Mania - click here . This episode has been described by the Economist as probably the greatest bubble in human history. Gareth's website provides background on the Mania and posits some explanations for the 'bubble'. In his explanation of why the bubble happened, Gareth places a lot of emphasis on investor myopia regarding future dividends and uncalled capital. His study of investors during the episode does not support the view that this episode was fuelled by naive and irrational investors.