Railway Mania Interview on Share Radio

My colleague Gareth Campbell recently gave an interview on Share Radio about the railway mania. Gareth explains the role played by high dividends, uncalled capital and overexpansion in driving the boom and bust in railway shares. You can access the podcast at Gareth's Railway Mania website. Gareth has written several seminal papers on the railway mania. He and I have written several papers on the mania, looking at the role of shareholders, managers, and the media in the railway mania.