Extraordinary Popular Delusions

Business & Finance, Personal Finance, Money Management
Cover of the book Extraordinary Popular Delusions by Charles Mackay, Dover Publications
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Author: Charles Mackay ISBN: 9780486147871
Publisher: Dover Publications Publication: May 3, 2012
Imprint: Dover Publications Language: English
Author: Charles Mackay
ISBN: 9780486147871
Publisher: Dover Publications
Publication: May 3, 2012
Imprint: Dover Publications
Language: English

This classic survey of crowd psychology offers an illuminating and entertaining look at three grand-scale swindles. Originally published in England in 1841, its remarkable tales of human folly reveal that the hysteria of the Wall Street Crash of 1929 and the junk-bonds frenzy of the 1980s were far from uniquely twentieth-century phenomena.
The first of the financial scandals discussed, "The Mississippi Scheme," concerns a disastrous eighteenth-century plan for the commercial exploitation of the Mississippi valley, where investors were lured by Louisiana's repute as a region of gold and silver mountains. During the same era, thousands of English investors were ruined by "The South-Sea Bubble," a stock exchange based on British trade with the islands of the South Seas and South America. The third episode involves Holland's seventeenth-century "Tulipomania," when people went into debt collecting tulip bulbs — until a sudden depreciation in the bulbs' value rendered them worthless (except as flowers).
Fired by greed and fed by naiveté,  these historic investment strategies gone awry retain an irrefutable relevance for modern times. Extraordinary Popular Delusions is essential and enthralling reading for investors as well as students of history, psychology, and human nature.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

This classic survey of crowd psychology offers an illuminating and entertaining look at three grand-scale swindles. Originally published in England in 1841, its remarkable tales of human folly reveal that the hysteria of the Wall Street Crash of 1929 and the junk-bonds frenzy of the 1980s were far from uniquely twentieth-century phenomena.
The first of the financial scandals discussed, "The Mississippi Scheme," concerns a disastrous eighteenth-century plan for the commercial exploitation of the Mississippi valley, where investors were lured by Louisiana's repute as a region of gold and silver mountains. During the same era, thousands of English investors were ruined by "The South-Sea Bubble," a stock exchange based on British trade with the islands of the South Seas and South America. The third episode involves Holland's seventeenth-century "Tulipomania," when people went into debt collecting tulip bulbs — until a sudden depreciation in the bulbs' value rendered them worthless (except as flowers).
Fired by greed and fed by naiveté,  these historic investment strategies gone awry retain an irrefutable relevance for modern times. Extraordinary Popular Delusions is essential and enthralling reading for investors as well as students of history, psychology, and human nature.

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