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>railroads had huge, immediate demand Wikipedia states most capital in the late 1800s railroad bubble in the USA was "involved in projects offering no immediat
by 0xDEAFBEAD 5mo ago
>railroads had huge, immediate demand
Wikipedia states most capital in the late 1800s railroad bubble in the USA was "involved in projects offering no immediate or early returns" https://en.wikipedia.org/wiki/Panic_of_1873 https://en.wikipedia.org/wiki/Panic_of_1873
- acdha 5mo agoThat’s a specific bubble half a century into railroads transforming the American economy. While there were plenty of bad investments, that’s because so much of the economy depended on railroads to move goods and people.