Why do stock and housing markets sometimes experience amazing booms followed by massive busts and why is this happening more and more frequently? In order to answer these questions, William Quinn and John D. Turner take us on a riveting ride through the history of financial bubbles, visiting, among other places, Paris and London in 1720, Latin America in the 1820s, Melbourne in the 1880s, New York in the 1920s, Tokyo in the 1980s, Silicon Valley in the 1990s and Shanghai in the 2000s. As they do so, they help us understand why bubbles happen, and why some have catastrophic economic, social and political consequences whilst others have actually benefited society. They reveal that bubbles start when investors and speculators react to new technology or political initiatives, showing that our ability to predict future bubbles will ultimately come down to being able to predict these sparks.

For both contemporaries and later historians the Industrial Revolution is viewed as a turning point' in modern British history. There is no doubt that change occurred, but what was the nature of that change and how did affect rural and urban society? Beginning with an examination of the nature of history and Britain in 1700, this volume focuses on the economic and social aspects of the Industrial Revolution. Unlike many previous textbooks on the same period, it emphasizes British history, and deals with developments in Wales, Scotland, and Ireland in their own right. It is the emphasis on the diversity, not the uniformity of experience, on continuities as well as change in this crucial period of development, which makes this volume distinctive. In his companion title Richard Brown completes his examination of the period and looks at the changes that took place in Britain's political system and in its religious affiliations.

Based on privileged access to the British Railway Board's rich archives, this book provides and authoritative account of the progress made by the British Railway System prior to its privatization. It offers a unique account of the last fifteen years of nationalized railways in Britain, and it sheds light on the current problems of privatized railway systems. This volume is divided into four complete and concise sections for complete study: 'Railways Under Labour (1974-1979)', 'The Thatcher Revolution (British Rail in the 1980's)', 'On The Threshold of Privatization: Running the Railways (1990-1994)', and 'Responding to Privatization (1981-1997)'. Author Terry Gourvish is considered Britain's leading railway historian.

Originally published in 1986, this is a business history of the first twenty-five years of nationalised railways in Britain. Commissioned by the British Railways Board and based on the Board's extensive archives, it fully analyses the dynamics of nationalised industry management and the complexities of the vital relationship with government. After exploring the origins of nationalisation, the book deals with the organisation, financial performance, investment and commercial policies of the British Transport Commission (1948-2), Railway Executive (1948-53) and British Railways Board (1963-73). Calculations of profit and loss, investment, and productivity are provided on a consistent basis for 1948-73. This business history thus represents a major contribution not only to the debate about the role of the railways in a modern economy but also to that concerning the nationalised industries, which have proved to be one of the most enduring problems of the British economy since the war.

For British Rail, the 1970s was a time of contrasts, when bad jokes about sandwiches and pork pies often belied real achievements, like increasing computerisation and the arrival of the high-speed Inter-City 125s. But while television advertisements told of an 'Age of the Train', Monday morning misery continued for many, the commuter experience steadily worsening as rolling stock aged and grew ever more uncomfortable. Even when BR launched new electrification schemes and new suburban trains in the 1980s, focus still fell on the problems that beset the Advanced Passenger Train, whose ignominious end came under full media glare. In British Railways in the 1970s and '80s, Greg Morse guides us through a world of Traveller's Fare, concrete concourses and peak-capped porters, a difficult period that began with the aftershock of Beeching but ended with BR becoming the first nationalised passenger network in the world to make a profit.

The privatisation of the British railway industry was a unique political and economic event. An integrated industry was broken-up into numerous component parts and sold off to private sector interests. The result was a highly fragmented industry that was structurally unsound and operationally dysfunctional. This authoritative volume presents an enlightening portrait of an industry that is less efficient, more costly and still more dependent on state subsidy today than its nationalised predecessor. The nine chapters in this work present a comprehensive and rigorous evaluation of how and why the industry has become so dysfunctional and costly, supported by detailed financial analysis and industry examples. Seven chapters comprise a series of peer-reviewed academic papers by Professor McCartney and Dr Stittle and published in leading international journals over the period 2004–2017 which analyse selected key segments of the privatised industry: where appropriate, updates are provided at the end of these chapters outlining developments since initial publication relevant to the analysis therein. Two chapters are published here for the first time: Chapter 7 reviews the performance of the freight sector, while Chapter 1 ‘bookends’ the volume by providing first, an account of how rail privatisation was conceived and implemented in the 1980s/90s, and then reviews the impact of the pandemic and the proposals of the Williams-Shapps White Paper of 2021 which, if enacted, will effectively end the Major government’s experiment. Going far beyond the usual superficial analysis of the topic, this volume will be of significant interest to researchers and advanced students of accounting, economics, business history, transport studies, as well as industry and specialised business interests in transport and privatisation.