By 1873, The Railroad Boom Had Built Some Of The Largest Fortunes In American History. Then A Brutal Crash Bankrupted More Than 100 Railroads And Brought A 5-Year Depression. Now, Brookings Projects The AI Buildout Will Be An Even Larger Share Of The Economy Than The Railroad Mania | SharesLocker
By 1873, The Railroad Boom Had Built Some Of The Largest Fortunes In American History. Then A Brutal Crash Bankrupted More Than 100 Railroads And Brought A 5-Year Depression. Now, Brookings Projects The AI Buildout Will Be An Even Larger Share Of The Economy Than The Railroad Mania
Jay Cooke's bank failure in 1873 wiped out more than a hundred railroads and triggered a five-year depression, and a new Brookings paper argues the AI buildout dwarfs that spending frenzy as a share of the economy.