A number of weeks ago, I posted clips to the Hayek vs Keynes rap. The artists behind the rap have received a letter from a nine-year-old girl in which she states her preference for Hayek over Keynes - great discernment in one so young! The letter is reproduced below (hat tip to Dr Graeme Acheson).
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.