Librivox recording of Memoirs of Extraordinary Popular Delusions and the Madness of Crowds, Volume I by Charles Mackay. I only read the chapter on witches. The name of the book describes exactly what you might expect it to contain. Mackay is sometimes a little silly (he spends hundreds of pages showing how the brightest men of science and learning fell for alchemy, then looks to science and knowledge to save us from superstitions like witchcraft) but always entertaining and often fairly profound. I didn't know what until I started the book, though. Only chapters relating to financial markets have been included in this Wiley Investment Classics edition. There is truly nothing new under the sun; the catalog of human daftness, though entertainingly long and varied, is nonetheless finite. Because we have to learn from other's mistakes so we aren't caught in the madness and can not only save our portfolio but hopefully profit from it. These bubbles happen over and over again at all levels. Extraordinary Popular Delusions and The Madness of Crowds has had an important influence on economists in understanding of crowd psychology and feedback loops. There's no part of this I didn't like. We’d love your help. The author then debunks the delusions by citing the proof that was published at the time of the delusion. Office of the National Illustrated Library, ... if one is clever enough to find their way to this review, and the novel itself, they have come far in their journey! ... Memoirs of Extraordinary Popular Delusions and the Madness of Crowds, Volume 1 How could such fool. Extraordinary Popular Delusions and the Madness of Crowds is an early study of crowd psychology by Scottish journalist Charles Mackay, first published in 1841 under the title Memoirs of Extraordinary Popular Delusions. It doesn't matter whether we're burning witches, fighting holy wars, or flinging dairy-products at politicians*, we are a ridiculous species. But was it funny when for several centuries the church-driven popular delusion of witchcraft led to the actual burning alive of perhaps 100,000 women (and some men) in scenes at least as ridiculous as that? He was trying entertain his audience and to demonstrate, as effectively as possible, one simple thing: that humans, as a species are quite incurably insane. This item: Extraordinary Popular Delusions and The Madness of Crowds by Charles MacKay Paperback $16.99 Ships from and sold by Amazon.com. While the book is a must-read for anyone who wants to see maxims about the value of historical knowledge played out, the actual reading of it might be a bit of a chore. Read by LibriVox Volunteers. It was a favorite book of Bernard Baruch, who wrote the foreword to the 1932 edition, a much longer work than what we see here. EXTRAORDINARY POPULAR DELUSIONS AND THE MADNESS OF CROWDS is a popular history of popular folly in human society by Scottish journalist Charles Mackay, first published in 1841 but most of which remains incredibly relevent to this day. The illumination cast by his thesis itself is probably worthy of a five-star rating, but I found the first section on Paris to be excessively detailed and frankly tedious. Start by marking “Extraordinary Popular Delusions and the Madness of Crowds” as Want to Read: Error rating book. Find helpful customer reviews and review ratings for Memoirs of Extraordinary Popular Delusions and the Madness of Crowds at Amazon.com. As the man looks back to the days of his childhood and his youth, and recalls to his mind the strange notions that swayed his actions at that time, that he may wonder at them; so should society, for its education, look back to the opinions which governed the ages fled. It is best, then, to think of The Madness of Crowds as a catalogue of bizarre human behaviour, rather then a piece of popular science writing. A reader recommended the book "Extraordinary Popular Delusions and the Madness of Crowds" a while back, and I just got a chance to read it. I understand completely why this text was reissued: the parallels to contemporary events (like the dot-com bubble, the housing bubble, the crash of 2007 and frenzied investment in Iraqi infrastructure and petroleum projects) are so striking as to almost seem contrived. Read honest and unbiased product reviews from our users. Read honest and unbiased product reviews from our users. I'm always delighted to read of the foibles of Walter the Penniless and Peter the Hermit, truly amusing but for the (hundreds of?) But the fact remains… The book was written over 150 years ago and the language is a little bit difficult to read. First published in 1841 and expanded in … Goodreads helps you keep track of books you want to read. He is but, “Let us not, in the pride of our superior knowledge, turn with contempt from the follies of our predecessors. The study of the errors into which great minds have fallen in the pursuit of truth can never be uninstructive. Customer Reviews. This book is an excellent place to start if you want to understand how this could come about. Charles Mackay was a Scottish poet, journalist, author, anthologist, novelist, and songwriter, remembered mainly for his book, “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, one by one.”, “I never lost money by turning a profit.”, (Extraordinary Popular Delusions and The Madness of Crowds #1-3), http://www.gutenberg.org/browse/authors/m#a516, Extraordinary Popular Delusions and The Madness of Crowds #1-3, Extraordinary Popular Delusions and The Madness of Crowds, Heat Up the Holidays with These 27 Winter Romances. I kind of wish I'd read the whole thing. Extraordinary Popular Delusions and the Madness of Crowds is a study of crowd psychology by Scottish journalist Charles Mackay. When physicist Isaac Newton lost some fortune in his investment in the South Sea Company, he said "I can calculate the motions of heavenly bodies, but not the madness of people" and warned others not mention the name "South Sea" ever again in his presence. Plus ça change; history repeats itself because human nature doesn't change. I wonder where you got the words for your review? I was surprised and somewhat pleased to see that some business book publishers help keep this amusing work in print. Read Extraordinary Popular Delusions and the Madness of Crowds (Wordsworth Reference) book reviews & author details and more at Amazon.in. It's like history has conspired to bear out MacKay's thesis to perfection: you could hardly hope for better validation outisde of a laboratory! Related Searches. Just a moment while we sign you in to your Goodreads account. There are excellent books on the financial aspecst or history of such phenomena, Galbraith or John Cassidy for example. And not only is such a study instructive: he who reads for amusement only will find no chapter in the annals of the human mind more amusing than this. Madness of the Crowds is an amazing read. Shorter sections cover various typ. Reading this book written over 150 years ago majes you realize how little people have changed over the course of history, right up to today. Anyway, lost interest after the 78th description of some renaissance alchemist, Today, July 29, 2014, Amazon has a market capitalization of $147,380,000,000 and a price/earnings ratio of 569. But was it funny when for several centuries the church-driven popular delusion of witchcraft led to the actual burning alive of perhaps 100,000 women (and some men) in scenes at least as ridiculous as that? He was trying entertain his audience and to demonstrate, as effectively as po. He reminds us that, no matter how batshit crazy a particular fad might seem, it's already been done by our ancestors. Learn why intelligent people do amazingly stupid things when caught up in speculative edevorse. i. volume i. Find helpful customer reviews and review ratings for Extraordinary Popular Delusions and The Madness of Crowds at Amazon.com. Find helpful customer reviews and review ratings for Extraordinary Popular Delusions and the Madness of Crowds (Illustrated) at Amazon.com. That is, people have one hundred forty seven billion dollars invested in Amazon and at the present rate will earn back their money in 569 years. It's been too long since I've read this, but there's a, Mark Twain once famously characterized a "classic" as "a book that everyone praises and nobody reads," and while there are plenty of classics that absolutely hold up (. Be the first one to write a review. But at bottom this is not a f. Today, July 29, 2014, Amazon has a market capitalization of $147,380,000,000 and a price/earnings ratio of 569. The book chronicles its targets in three parts: National Delusions, Peculiar Follies, and Philosophical Delusions. If you think Monty Python’s witch scene — where villagers burn an alleged witch because witches are supposed to be burned, wood also burns, wood floats, ducks also float, and the alleged must therefore be a witch if she weighs the same as a duck — is funny, it is. Some of the long sections include financial bubbles, alchemy, the Crusades, and witch hunting frenzies. It can serve as a springboard to the study of actual history, economics, and psychology, or it can be an entertaining way to pass some time -- but don't believe everything you read here. Sam Harris wrote an intro to that and published it as its own little book. Well, yes, we are! Madness! In the weeks before the election, as the financial crisis spun ever farther out of control and the pundits' shrieks grew ever more shrill, I browsed through "Popular Delusions.." and found solace. I guess the low rating is my fault, this book is written in a very victorian styles and it feels more like a reference book than one that you actually opens to read it from beginning to end. To me, Charles Mackay’s “Extraordinary Popular Delusions and the Madness of Crowds” possesses an almost equally evocative power. Yes, plus ça change, plus c'est la même chose. "Extraordinary Popular Delusions and the Madness of Crowds" was authored by Scotsman Charles MacKay in 1841. It is extremely repetitive in the examples it enumerates. Charles Mackay. “We … Why do otherwise intelligent individuals form seething masses of idiocy when they engage in collective action? “Extraordinary Popular Delusions and the Madness of Crowds” provides a list of history’s ridiculous schemes, fantasies, prophesies witchcraft, faith healers and more. Oh, to be reminded of humanity's follies and foolishness. Read honest and unbiased product reviews from our users. Shorter sections cover various types of medical quackery, doomsday prophets, poisoners, and dueling. “Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only … Note - This review is on the non-abridged version Madness of the crowds that can be seen here Extraordinary Popular Delusions & the Madness of Crowds which is the version that I would recommend. Memoirs of Extraordinary Popular Delusions and the Madness of Crowds, Volume 1. Just got there, I got some golden nuggets from this but the peak of it wasn't the once I expected it to be, but great read nevertheless. Essential reading for those interested in investing in the stock market or cryptocurrency. The book chronicles its targets in three parts: "National Delusions," "Peculiar Follies," and "Philosophical Delusions." Madness! london: office of the national illustrated library, 227 strand. Learn why intelligent people do amazingly stupid things when caught up in speculative edevorse. What a delightful read! Extraordinary Popular Delusions & the Madness of Crowds Paperback – July 25, 1995 by Charles Mackay (Author), Andrew Tobias (Foreword) 3.8 out of 5 stars 268 ratings FREE Shipping on orders over $25.00 . “Let us not, in the pride of our superior knowledge, turn with contempt from the follies of our predecessors. Extraordinary Popular Delusions and the Madness of Crowds is a history of popular folly by Charles Mackay. That is, people have one hundred forty seven billion dollars invested in Amazon and at the present rate will earn back their money in 569 years. financial bubbles, witch hunts, alchemy), the remarkable story of John Law and the Mississippi Scheme is told in the language and cadence of a cautionary tale like "the Emperor's New Clothes", The great strength - and weakness- of this book is that it was written by a nineteenth century journalist. Charles Mackay was a Scottish poet, journalist, author, anthologist, novelist, and songwriter, remembered mainly for his book Extraordinary Popular Delusions and the Madness of Crowds. Be the first to ask a question about Extraordinary Popular Delusions and the Madness of Crowds. Why do you need to read Extraordinary Popular Delusions and The Madness of Crowds? Except for the Covid-19, of course, which the author was lucky enough to have been spared. Extraordinary Popular Delusions and the Madness of Crowds is a study of crowd psychology by Scottish journalist Charles Mackay. Are you spending this season bundling up against the chill or enjoying summery southern hemisphere vibes (in which case we are... First published in 1841, Extraordinary Popular Delusions and the Madness of Crowds is often cited as the best book ever written about market psychology. Refresh and try again. This Harriman House edition includes Charles Mackay's account of the three infamous financial manias - John Law's Mississipi Scheme, the South Sea Bubble, and Tulipomania. Charles Mackay (1814–89) was a 19th century Scottish poet, journalist, chronicler and song writer. And on and on. The extraordinary avidity of the people kept up the delusion; and the higher the price of Indian and Mississippi stock, the more billets de banque were issued to keep pace with it. A charmingly dated look at frauds, hoaxsters and other chicanery, Charles Mackay's classic Extraordinary Popular Delusions & the Madness of Crowds, is an interesting, facinating read. Memoirs of Extraordinary Popular Delusions and the Madness of Crowds Item Preview remove-circle ... Memoirs of Extraordinary Popular Delusions and the Madness of Crowds by Charles Mackay. Même chose debunks the Delusions by citing the proof that was published at the time of Madness... 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Helpful customer reviews and review ratings for Extraordinary Popular Delusions and the Madness of Crowds by Charles Mackay Extraordinary! Journalist in London: in 1834 he was an occasional contributor to the sun ; the of...