The blueprint for Scottish independence was released a few days ago - you can read a summary here. For most people, whether or not independence is a good thing largely revolves around the economic costs and benefits of dissolving the union. What currency should an independent Scotland use? In the blueprint, Alex Salmond states that "the pound is Scotland's currency just as much as it is the rest of the UK's". See the super video below produced by the National Institute of Economic and Social Research which explains what money is, the alternatives facing an independent Scotland, and why Salmond's proposal may not be workable (hat tip: Chris Colvin).
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.