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Extraordinary Popular Delusions

BEAT KITCHEN

CHICAGO, IL

Jul 16 Mon • 2018 • 9:00pm

Jazz and Blues

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BEAT KITCHEN, CHICAGO, IL

280
Capacity

Extraordinary Popular Delusions at the BEAT KITCHEN, CHICAGO, IL

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Extraordinary Popular Delusions

Public Onsale   Jun 16 Sat 2018 9:00pm to Jul 16 Mon 2018 9:00pm

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Extraordinary Popular Delusions

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Wikipedia Bio

Extraordinary Popular Delusions and the Madness of Crowds
Extraordinary Popular Delusions and the Madness of Crowds
Front page of the original 1841 edition
AuthorCharles Mackay
CountryUnited Kingdom
LanguageEnglish
SubjectsCrowd psychology, economic bubbles, history
PublisherRichard Bentley, London
Publication date
1841
Media typePrint
"Night wind hawkers" sold stock on the streets during the South Sea Bubble. (The Great Picture of Folly, 1720)
A satirical "Bubble card"

Extraordinary Popular Delusions and the Madness of Crowds is an early study of crowd psychology by Scottish journalist Charles Mackay, first published in 1841 under the title Memoirs of Extraordinary Popular Delusions.[1] The book was published in three volumes: "National Delusions", "Peculiar Follies", and "Philosophical Delusions".[2] Mackay was an accomplished teller of stories, though he wrote in a journalistic and somewhat sensational style.

The subjects of Mackay's debunking include alchemy, crusades, duels, economic bubbles, fortune-telling, haunted houses, the Drummer of Tedworth, the influence of politics and religion on the shapes of beards and hair, magnetisers (influence of imagination in curing disease), murder through poisoning, prophecies, popular admiration of great thieves, popular follies of great cities, and relics. Present-day writers on economics, such as Michael Lewis and Andrew Tobias, laud the three chapters on economic bubbles.[3]

In later editions, Mackay added a footnote referencing the Railway Mania of the 1840s as another "popular delusion" which was at least as important as the South Sea Bubble. In the 21st century, the mathematician Andrew Odlyzko pointed out, in a published lecture, that Mackay himself played a role in this economic bubble; as a leader writer in The Glasgow Argus, Mackay wrote on 2 October 1845: "There is no reason whatever to fear a crash".[4][5]

  1. ^ Mackay, Charles (1841). Memoirs of Extraordinary Popular Delusions and the Madness of Crowds. Vol. I (1 ed.). London: Richard Bentley. Retrieved 29 April 2015.Mackay, Charles (1841). Memoirs of Extraordinary Popular Delusions and the Madness of Crowds. Vol. II (1 ed.). London: Richard Bentley. Retrieved 29 April 2015.Mackay, Charles (1841). Memoirs of Extraordinary Popular Delusions and the Madness of Crowds. Vol. III (1 ed.). London: Richard Bentley. Retrieved 29 April 2015.
  2. ^ Mackay, Charles (1841). Extraordinary Popular Delusions and the Madness of Crowds. Archived from the original on 23 June 2004. Retrieved 23 March 2018.
  3. ^ Lewis, Michael (2008). The Real Price of Everything.
  4. ^ MacKay, Charles (2008). Extraordinary Popular Delusions, the Money Mania: The Mississippi Scheme, the South-sea Bubble, & the Tulipomania. Cosimo, Inc. p. 88. ISBN 978-1-60520-547-2. Retrieved 8 June 2013.
  5. ^ Odyyzko, Andrew (2012). Charles Mackay's own extraordinary popular delusions and the Railway Mania (PDF). p. 2.

Source: Wikipedia