One of the most moving things which I have ever done is to visit the Normandy beaches where the D-Day landings occurred. I was really struck by the sacrifice, bravery, and ingenuity of those who liberated Europe. If the D-Day landings of 6th June 1944 had failed, what would Europe have looked like today? The BBC has great coverage of the 70th anniversary of D-Day - click here.
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.