Governance & Academia

Emerson's "Self-Reliance" advocates for individualism, nonconformity, and trusting one's inner voice while criticizing societal conformity and reliance on external validation for personal growth and fulfillment.

The British Railway Mania of the 1840s illustrates market inefficiencies and collective hallucinations among investors, leading to significant financial losses despite available evidence and insightful criticism regarding railway demand and revenue projections.