5/18/2023 Memoirs of Extraordinary Popular Delusions and the Madness of... by Charles MackayRead NowThis brilliant interpretation of Extraordinary Popular Delusions… is an entertaining accompaniment to one of the most famous books ever written. Tim Phillips’s interpretation of Mackay’s work is not a substitute for the original its purpose is simply to illustrate the timeless nature of these inspirational insights by bringing them to life through modern business and political case studies. The book chronicles its targets in three parts: 'National Delusions,' 'Peculiar Follies,' and 'Philosophical Delusions.' Learn why intelligent people do amazingly stupid things when caught up in speculative endeavors. And what do bubbles do? Why they burst of course. Extraordinary Popular Delusions and the Madness of Crowds is a history of popular folly by Charles Mackay. Author Charles Mackay chronicles many celebrated financial manias, or ‘bubbles’, which demonstrate his assertion that “every age has its peculiar folly some scheme, project, or fantasy into which it plunges, spurred on by the love of gain, the necessity of excitement, or the mere force of imitation.” This still holds fast today! Among the alleged ‘bubbles’ described by Mackay is the infamous Dutch tulip mania, the South Sea Company bubble and the Mississippi Company bubble. First published in 1841, Extraordinary Popular Delusions and the Madness of Crowds is often cited as the best book ever written about market psychology.
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