Liaquat Ahamed discusses his new book and why 1873 still matters. How railroad mania compares with today’s rush into AI infrastructure, and what the era can teach investors about bubbles, monetary-policy mistakes and financial resilience. He spoke to Bloomberg's Carol Massar and Tim Stenovec. See omnystudio.com/listener (https://omnystudio.com/listener) for privacy information. Bloomberg Talks curates top interviews from around Bloomberg News. Hear conversations with the biggest names in finance, politics and entertainment. On Bloomberg Talks, we round up interviews with Fortune 500 CEOs, government officials, well-known investors and business leaders. Listen to more Bloomberg Talks: https://youtube.com/playlist?list=PLe4PRejZgr0PymVnW5YWXAKoo_oh7FWmh&si=-VRYLfzBIcZszwHN Subscribe to Bloomberg Podcasts: https://bit.ly/BloombergPodcasts #Bloomberg #Podcast Visit us: https://www.bloomberg.com/podcasts Follow Bloomberg Podcasts on Twitter: https://twitter.com/podcasts Visit our other YouTube channels: Bloomberg Television: https://www.youtube.com/@markets Bloomberg Originals: https://www.youtube.com/bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake For coverage on news, markets and more: http://www.bloomberg.com/video