The Scotsman cartoon: Edinburgh’s Library of Mistakes

Illustration: Iain Green
Illustration: Iain Green
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The world’s first “Library of Mistakes” which aims to document financial history is to be opened in Edinburgh by former Conservative Chancellor Lord Lamont.

The collection of more than 2,000 books on finance has been gathered in the hope that it will encourage people to learn from the mistakes of others.

Finance professionals, students and members of the public will use the new library, which houses volumes analysing meltdowns from the Great Depression to the 2008 credit crunch.

Russell Napier, the Library’s Keeper, said: “Why does the world need a Library of Mistakes? Because smart people keep doing stupid things.”