#1583

Mentioned in 15 episodes

Extraordinary Popular Delusions and the Madness of Crowds

Book • 1932

David J. Schneider

This book, first published in 1841, is an early study of crowd psychology by Charles Mackay.

It chronicles numerous instances of mass hysteria and popular delusions, including economic bubbles like the South Sea Bubble and Tulipomania, the Crusades, witch-hunts, and other peculiar follies.

Mackay presents these examples to illustrate how easily the masses can be led astray by various delusions and how human folly remains a constant across different times and places.

The book is divided into sections such as 'National Delusions,' 'Peculiar Follies,' and 'Philosophical Delusions,' and is known for its engaging and witty narrative style.

Mentioned by

Chris Bloomstran

David Rosenberg

Alasdair Macleod

Anthony Yoseloff

Christopher Bloomstran

Mentioned in 15 episodes

Mentioned by

Tim Ferriss

as a book that explores crowd madness.

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Mentioned by Chuck Bryant as a source that promulgated the Tulip Mania myth.

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Recommended by

Bill Bernstein

as a book that describes events from the past that are still relevant today.

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Mentioned by

Ray Dalio

when discussing historical cycles and recurring patterns.

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Mentioned by

Owen Lamont

as a historical text on financial bubbles, despite its flaws.

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Mentioned by

Tai Lopez

as a book about boom times, recessions, and crazy trends.

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Mentioned by

Kyle Grieve

in relation to Tulipomania and its analysis.

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Recommended by

Anthony Yoseloff

as a classic book on speculative bubbles and crowd psychology.

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Mentioned by

Peter Schiff

as a book describing what is happening with Bitcoin.

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Mentioned by

Christopher Bloomstran

in the context of tulip mania and speculative bubbles.

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Mentioned by

Tim Harford

as a book that contains a story about a sailor who accidentally ate a rare tulip bulb.

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Mentioned by

Bill Kristol

as a book that was popular among conservatives in the early 19th century, vaguely referencing its anti-democratic sentiment.

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Mentioned by

Chris Bloomstran

when discussing the tulip mania of the 1630s and the Semper Augustus tulip.

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Mentioned by Doug during his trivia segment, discussing the book's relevance to tulip mania.

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Mentioned by

Frank Vasquez

in relation to William Bernstein's book, highlighting the enduring relevance of his observations on human behavior.

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Recommended by

David Rosenberg

for understanding crowd psychology and irrational behavior in markets.

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Recommended by

Jon Atack

as a brilliant book about popular delusions and the madness of crowds.

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Mentioned by

Douglas Murray

as the source of the title "The Madness of Crowds."

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Mentioned by

Dave Rosenberg

as a book to read over the break.

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Mentioned by

Alasdair Macleod

, suggesting Charles Mackay would have included MicroStrategy's scheme in a new chapter on bubbles.

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