My colleague, Ronan Gallagher, has forwarded me a link to a company which is selling a graphic entitled Cycles of Financial Crises 1810 to 2010. This graphic is based on Reinhart and Rogoff's This Time is Different: Eight Centuries of Financial Folly. Various frames and mounting options are available!
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.
![[Cycles of Financial Crises 1810 to 2010]](https://www.historyshots.com/images/FinancialCrisis650.gif)