Macha and the Invention of Myth

This paper provides new literary analyses of two tales associated with Emain Macha, both of which feature a woman called Macha: Noínden Ulad, which purports to tell the origin of the debility that the Ulstermen suffered during the Táin, and the story of Macha Mongrúad, who overthrew her enemies and forced them to construct the fort of Emain Macha. The discussion considers issues of warriorhood, justice and gender, and seeks to disentangle the themes of sovereignty and war in relation to the women called Macha. Two of the four women bearing the name Macha are, in all probability, relatively late innovations, and the primary function of the remaining two figures lies in warfare.

Dispelling the Myth of the Naive Investor during the British Railway Mania, 1845–46

Anecdotal evidence from the British Railway Mania and other historical financial bubbles suggests that many investors during such episodes are naive, thus contributing to the asset price boom. Using extensive investor records, we find that very few investors during the Railway Mania can be categorized as such. Although some interpretations of the Mania suggest that naive investors were expropriated by railway insiders, our evidence is inconsistent with this view as railway insiders contributed substantial amounts of capital, and their investments performed no better than those made by other experienced investors.