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EXTRAORDINARY POPULAR DELUSIONS AND THE Madness of Crowds Financial panics and manias (Paperback)
Loot Price: R357
Discovery Miles 3 570
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EXTRAORDINARY POPULAR DELUSIONS AND THE Madness of Crowds Financial panics and manias (Paperback)
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Loot Price R357
Discovery Miles 3 570
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REPRINT. 106 pp. Mackay's original work, first published in 1841 in
three volumes, is an account of irrational human behavior across
many spectra. Financial panics, occultism, witch mania and the
crusades were among the topics he covered. The present edition
reprints only those portions of Mackay's original work that deal
with financial mania and panics.Among the alleged bubbles or
financial manias described by Mackay is 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.Financier Bernard Baruch
credited the lessons he learned from Extraordinary Popular
Delusions and the Madness of Crowds with his decision to sell all
his stock ahead of the financial crash of 1929.
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