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Extraordinary Popular Delusions and the Madness of Crowds

Charles Mackay

54 ratings
Extraordinary Popular Delusions and the Madness of Crowds | Charles Mackay

Extraordinary Popular Delusions and the Madness of Crowds

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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, and one by one." "In reading the history of nations, we find that, like individuals, they have their whims and their peculiarities; their seasons of excitement and recklessness, when they care not what they do. We find that whole communities suddenly fix their minds upon one object, and go mad in its pursuit; that millions of people become simultaneously impressed with one delusion, and run after it, till their attention is caught by some new folly more captivating than the first.

The book chronicles and vilifies its targets in three parts: “National Delusions”, “Peculiar Follies”, and “Philosophical Delusions”.

The subjects of Mackay’s debunking include alchemy, beards (influence of politics and religion on), witch-hunts, crusades and duels. Present day writers on economics, such as Andrew Tobias, laud the three chapters on economic bubbles. (summary from wikipedia)
ondemned to be burned alive. At the place of execution they assumed the air of penitence and religion. Gilles tenderly embraced Prelati, saying, “Farewell, friend Francis! In this world we shall never meet again; but let us place our hopes in God; we shall see each other in Paradise.” Out of consideration for his high rank and connexions, the punishment of the marshal was so far mitigated, that he was not burned alive like Prelati. He was first strangled, and then thrown into the flames: his body, when half consumed, was given over to his relatives for interment, while that of the Italian was burned to ashes, and then scattered to the winds.39

Jacques Cœur.

This remarkable pretender to the secret of the philosopher’s stone was contemporary with the last mentioned. He was a great personage at the court of Charles VII., and in the events of his reign played a prominent part. From a very humble origin he rose to the highest honours of the state, and amassed enormous wealth by peculation and plunder of the country which he should have served. It was to hide his delinquencies in this respect, and to divert attention from the real source of his riches, that he boasted of having discovered the art of transmuting the inferior metals into gold and silver.

His father was a goldsmith in the city of Bourges; but so reduced in circumstances towards the latter years of his life, that he was unable to pay the necessary fees to procure his son’s admission into the guild. Young Jacques became, however, a workman in the Royal Mint of Bourges, in 1428, and behaved himself so well, and shewed so much knowledge of metallurgy, that he attained rapid promotion in that establishment. He had also the good fortune to make the acquaintance of the fair Agnes Sorel, by whom he was patr

John 12/16/2020
Amazing book, everything you need to know about the stupidity of the Crusades, witch trials, and more.
Augusto 07/28/2018
THE CRUSADES

It's funny and sad to read the most of the crusades failed (at least in the view of its organizers) due to miscommunication, pride and lack of cooperation of the western powers. It's almost unbelievable to see how disorganized some of the crusades were.
It reflects a lot of our current s
Tom 08/19/2016
"CONTENTS OF THE SECOND VOLUME.

THE CRUSADES ..."

Mackay here revels in the criminalistic excess and folly of the crusades. Largely they became a visitation of hell onto Eastern Europe resulting from the exportation of holy warriors from Western Europe. Over the decades, the infidels of the Holy Land
Carly 02/10/2011
It was interesting enough; opened the mind, made me think a bit. But it went on a bit too much, repetitive.

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