Library of Mistakes

Great recession road signsFor many of us, the Great Depression (1929)  is a history lesson, rather than a memory.  However, the more recent Great Recession (2008) may still be a lingering reality or a painful memory.  On October 11, Atlas Obscura published an article on a Scottish Library dedicated to lessons learned from the Great Depression and the Great Recession.

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It’s a case of “smart people doing stupid things.”

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Birmingham Northern Rock Bank Run in 2007

In both 1929 and 2008, economic experts everywhere claimed to know exactly what theyCircuit City Going Out of Business were doing, yet not a single person could fix the series of mistakes that crashed the world’s economy. To avoid future financial catastrophes, a library in Edinburgh, Scotland has compiled a collection of sensible economic literature that aims to educate the next generation of economists.

Visits by appointment only. Register at libraryofmistakes.com/register.

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