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> They are building too many steam engines. It's a bubble that's going to pop and leave investors empty handed. What a great analogy. People building too many
by marcosdumay 10mo ago
> They are building too many steam engines. It's a bubble that's going to pop and leave investors empty handed.
What a great analogy. People building too many steam engines was one of the main factors that lead to the first world war.
- piker 10mo agoSounds interesting. Do you have a source for that?
- marcosdumay 10mo agoThe most famous steam engine bubble in the 19th Century: https://en.wikipedia.org/wiki/Railway_Mania https://en.wikipedia.org/wiki/Railway_Mania Those popped all over Europe during the entire century, with the last one popping at the 1890s. For some reason, people focus only on this large one on the UK. Sources for how 19th Century imperialism had a lot of support from extend-and-pretend infrastructure bubbles are harder to search.
- delichon 10mo agoWell over a century after the commercialization of the Newcomen / Watt steam engines.