Neuroscientists have recently been looking at how childhood socioeconomic status and maltreatment during childhood affects the development of the brain (click here). Amongst other things, low socioeconomic status and childhood maltreatment can result in deficits in working memory, impaired cognition, a smaller hippocampus, and a larger amygdala. The question for social scientists is whether early intervention or government policy can somehow improve things for those from disadvantaged backgrounds.
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.