More than a century before Alan Greenspan coined the phrase "irrational exuberance" to describe the speculative bubble inflating technology stocks, Charles Mackay was recording the history of "tulipomania," a speculative madness surrounding the value of tulips in the 18th century that was the ruin of many Dutch and English investors. This is only one of the "extraordinary popular delusions" documented by Mackay in a fascinating study of group psychology. He also describes notorious witch hunts, haunted houses, the Crusades, beliefs in fortunetellers and in the magical power of alchemy, veneration of relics, bogus health cures and health scares, and many other examples of human credulity and flights from reason. This work is a true classic in the study of paranormal beliefs, a funny, shocking, and unbelievable yet true history of human gullibility.
|Series:||Great Minds Series|
|Product dimensions:||5.33(w) x 8.33(h) x 1.60(d)|
About the Author
Charles Mackay (1814-1889) was a Scottish poet, journalist and songwriter. After his education in Brussels, Mackay became a writer for The Sun, an assistant sub-editor for the Morning Chronicle, and a correspondent for The Times during the American Civil War. Mackay’s most notable books are Extraordinary Delusions and the Madness of Crowds, Life and Liberty in America, and Lost Beauties of the English Language.
Most Helpful Customer Reviews
This short version of Charles MacKay's book, Estraordinary Popular Delusions and the Madness of Crowds, which was first publilshed in 1841, should be on the reading list for anyone looking to make a fast buck, in the stock market or elsewhere. Change the names, places and time frame, and you would swear that it was just written. Amazing!! Popular delusions affect many investors - just ask Madoff, and other swindlers. The urge to "get rich quick" is mostly delussional. Once in ten thousand investments does one "hit the jackpot". The "Hula-hoop" back in the 50's is a classical example of hitting it big. President Obama should take the time to read this, but then again, he may not be invested in the market, or anywhere else. Americans are easily swayed by the "Rainmaker". This book, if read and compared to today's current affairs in the United States, and around the world, will reveal that human beings are gullable, as well as greedy, otherwise, they would be more cautious with whom they place their trust with their hard earned funds.