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Charles Mackay

Extraordinary Popular Delusions and the Madness of Crowds

First published in 1841, Charles Mackay’s “Extraordinary Popular Delusions and the Madness of Crowds” is a comprehensive study of various historical instances of mass hysteria and irrational behavior. The book is divided into three parts, each focusing on a different type of popular delusion: “National Delusions,” “Peculiar Follies,” and “Philosophical Delusions.” In the first section, Mackay examines the Dutch tulip mania of the 17th century, the South Sea Bubble of the 18th century, and the Mississippi Scheme, all of which were economic bubbles that resulted in widespread financial ruin. The second part looks at various fads and follies, such as the craze for alchemy, the witch hunts of the 16th and 17th centuries, and the Crusades. The final section explores philosophical delusions, including the belief in ghosts and haunted houses, the practice of mesmerism, and the craze for dueling. Throughout the book, Mackay argues that these delusions and follies are not simply the result of individual irrationality, but are instead driven by larger social and cultural forces. He examines the ways in which these delusions spread and take hold, and the ways in which they are often fueled by greed, fear, and the desire for social acceptance. “Extraordinary Popular Delusions and the Madness of Crowds” is a classic work of social psychology and economic history, and remains relevant today as a study of the ways in which groups of people can be swayed by irrational beliefs and behaviors. Mackay’s writing is engaging and accessible, and his analysis of these historical events is both thorough and insightful. The book is a must-read for anyone interested in understanding the complexities of human behavior and the ways in which individuals and groups can be influenced by the actions and beliefs of others. In summary, “Extraordinary Popular Delusions and the Madness of Crowds” is a classic study of historical instances of mass hysteria and irrational behavior, written by Charles Mackay and published in 1841. The book is divided into three parts, each focusing on a different type of popular delusion, and argues that these delusions are not simply the result of individual irrationality, but are instead driven by larger social and cultural forces. The book remains relevant today as a study of the ways in which groups of people can be swayed by irrational beliefs and behaviors...