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LIVE: The Myth of the Million Dollar Tulip Bulb
Cautionary Tales with Tim Harford
Charles Mackay's Extraordinary Popular Delusions
Sailor accidentally ate a million dollars as a side dish for his herring. At least he thought it was an onion. According to a Scottish writer telling the tale two centuries later. The story is in Charles Mackay's book Extraordinary Popular Delusions and the Madness of Crowds. Tim Harford: Could I understand financial markets of today by following this guide into the past? Maybe I could. And I learned much more than I could have hoped, but they weren't the lessons that Mackay had intended to teach me.
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