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Extraordinary Popular Delusions and The Madness of Crowds (Paperback)
Loot Price: R585
Discovery Miles 5 850
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Extraordinary Popular Delusions and The Madness of Crowds (Paperback)
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Loot Price R585
Discovery Miles 5 850
Expected to ship within 10 - 15 working days
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2009 reprint of the 1852 second edition. Two volumes bound into
one. Charles Mackay (1814-1889) was a Scottish poet, journalist,
and song writer. He was born in Perth, Scotland. His mother died
shortly after his birth and his father was by turns a naval officer
and a foot soldier. He was educated at the Caledonian Asylum,
London, and at Brussels, but spent much of his early life in
France. Coming to London in 1834, he engaged in journalism, working
for the Morning Chronicle from 1835-1844 and then became Editor of
The Glasgow Argus. He moved to the Illustrated London News in 1848
becoming Editor in 1852. He is best known for his classic Memoirs
of Extraordinary Popular Delusions and the Madness of Crowd,
reprinted herein. Mackay covers many types of delusions, among them
financial manias like the South Sea Company bubble of 1711-1720,
the Mississippi Company bubble of 1719-1720, and the Dutch tulip
mania of the early seventeenth century. According to Mackay, during
this bubble, speculators from all walks of life bought and sold
tulip bulbs and even futures contracts on them. Allegedly some
tulip bulb varieties briefly became the most expensive objects in
the world during 1637. Mackay's accounts are enlivened by colorful,
comedic anecdotes, such as the Parisian hunchback who supposedly
profited by renting out his hump as a writing desk during the
height of the mania surrounding the Mississippi Company. Financier
Bernard Baruch credited the lessons he learned from Mackay with his
decision to sell all his stock ahead of the financial crash of
1929.Other chapters are devoted to Alchemists, scientists and
pseudo scientists who attempted to turn base metals into gold.
Mackay notes that many of these practitioners were themselves
deluded, convinced that these feats could be performed if they
discovered the correct old recipe or stumbled upon the right
combination of ingredients.There are also extensive treatments on
the Crusades, Witch Mania and Trials and other forms of mass
delusion.
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