Posted inNonfiction, Quotes

Using the British Railway Mania of the 1840s to Explain the Beanie Baby Craze

Andrew Odlyzko, a mathematician and bubble expert, proposes a simpler theory explaining speculative panics in his study on the British Railway Mania of the 1840s. Odlyzko credits Railway Mania in part to a “collective hallucination,” an extreme form of groupthink wherein a significant chunk of society feverishly buys into a shared dream with no regard for the skeptics and […]

Posted inNonfiction, Quotes

Meet the Kids Who Don’t Want Toys For Christmas

It had been only two days since Ruth Soukup had re-organized her daughters’ room, and there were still a few toys on the floor that her kids, then three and six years old, refused to pick up. “I would say to the girls, ‘If you can’t take care of your stuff, I’m going to have to take it all away,’” Soukup recalls. It was an empty threat, until that afternoon when Soukup realized she genuinely “wanted it all gone.”