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Memoirs of Extraordinary Popular Delusions and the Madness of Crowds - Vol. I

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Author: Charles Mackay

Publisher: George Routledge & Co.

Year Printed: 1856

Edition: Third

Condition: Good

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Pages: 303

Height: 7.5 inches

Width: 5.2 inches

Notes:

Also see Volume II.

Originally published in 1841 in 3 volumes. See the QFinance review.

  • Examines the psychology of crowds and mass mania throughout history, including many of the classic scams, financial bubbles, mass hysteria, and deceptions that have characterized the business world and beyond.

  • At once a gripping thriller and fascinating historical document, the book discusses the underlying processes that lead markets into boom-and-bust cycles that still occur today.

  • Considers why people form into irrational groups when they engage in collective action.

See the wikipedia page on Tulip Mania

See article published by IFA: Charles Mackay's Extraordinary Popular Delusions: Some Second Thoughts
Quotes:

Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one.” pg. viii

Money, again, has often been a cause of the delusion of the multitudes. Sober nations have all at once become desperate gamblers, and risked almost their existence upon the turn of a piece of paper.” pg. viii

 

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