Extraordinary Popular Delusions and the Madness of Crowds

About this book

Extraordinary Popular Delusions and the Madness of Crowds is one of the classic books on human folly, mass belief, financial mania, superstition, and the strange things people will do when they think everyone else is doing them too. Charles Mackay surveys famous episodes of collective irrationality, from the Mississippi Scheme, the South Sea Bubble, and tulip mania to alchemy, prophecies, crusading zeal, haunted houses, dueling customs, witch trials, and other outbreaks of popular enthusiasm, fear, greed, and credulity.The book remains valuable because its subject has never gone out of fashion. Mackay's nineteenth-century prose can be dramatic, moralizing, and sometimes overstated, but the central insight is still painfully modern: crowds can make intelligent people reckless, and fashionable certainty can become more dangerous than ignorance. Readers interested in financial bubbles, market psychology, conspiracy thinking, moral panics, occult history, public delusion, and social contagion will find this an unusually rich classic.For Sublime Books, this belongs at the crossroads of psychology, history, philosophy, and practical wisdom. It is not a self-help book in the ordinary sense, but it teaches one of the most useful lessons in self-command: when everyone around you is certain, excited, terrified, or greedy, that is exactly when independent judgment matters most.