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Extraordinary Popular Delusions and The Madness of Crowds, by Charles MacKay
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A new edition of the timeless classic.
- Sales Rank: #73674 in Books
- Published on: 2013-10-22
- Original language: English
- Number of items: 1
- Dimensions: 10.00" h x .93" w x 8.00" l, 1.78 pounds
- Binding: Paperback
- 410 pages
Review
As with any true classic, once it is read it is hard to imagine not having known of it--and there is the compulsion to recommend it to others. --Andrew Tobias
About the Author
Charles Mackay (1841-1889) was born in Perth Scotland. His mother died shortly after his birth, and his father, who had been in turn a Lieutenant on a Royal Navy sloop (captured and imprisoned for four years in France) and then an Ensign in the 47th foot taking part in the ill-fated Walcheren Expedition where he contracted malaria, sent young Charles to live with a nurse in Woolwich in 1822.
After a couple of years�ƒ�‚�‚�’ education in Brussels from 1828-1830, he became a journalist and songwriter in London. He worked on The Morning Chronicle from1835-1844, when he was appointed Editor of The Glasgow Argus. His song The Good Time Coming sold 400,000 copies in 1846, the year that he was awarded his Doctorate of Literature by Glasgow University.
He was a friend of influential figures such as Charles Dickens and Henry Russell, and moved to London to work on The Illustrated London News in 1848, and he became Editor of it in 1852. He was a correspondent for The Times during the American Civil War, but thereafter concentrated on writing books.
Apart from Extraordinary Popular Delusions and the Madness of Crowds, he is best remembered for his songs and his Dictionary of Lowland Scotch.
Most helpful customer reviews
55 of 56 people found the following review helpful.
Warning! Do Not Buy the WRONG Version of this Great Book
By The book wizard
A. Popular Delusions is a truly great book.
B. But be careful which of the many offerings you buy.
First off, many of the editions in Amazon are partial reprints of the original 1841 edition. Anything with 200 or so pages is badly incomplete. The book you want must have all 16 chapters.
Second, most of the print editions, especially those claiming about 400-odd pages, are complete, but have type so small as to severely limit your reading pleasure. You must understand there is no copyright protection for the original English author so anyone can rip it off, and to make the most money many of these "artists" try to print as few literal pages as possible. The two editions I have bought (in 1967 at a bookstore and 2003 on Amazon), both published in London, have about 700 pages, including the dozen or so original hand illustrations. This is the print edition you want.
Third, to solve the type-size problem, acquiring a Kindle edition can be a good answer. It can also be priced as cheaply as 99 cents or even 0. But beware of what it contains as well. When I clicked on the Kindle version of a complete 16-chapter print version (the one on which I am writing this review) it turned out that the free Kindle version was shorted to just a few chapters, which I was able to discover only after I downloaded it
.
Fourth, the completely independent book, Gustave Le Bon's "The Crowd", originally published in 1895 is equally worth reading.
You'll love both books; make sure you actually enjoy them and get the whole things, as well.
19 of 19 people found the following review helpful.
Excellent book.
By Customer Review
History repeats itself, making this book well worth reading. Financial scams recur because people don't remember the past.
To quote John Kenneth Galbraith, Economist: "There's nothing unique about this. It is something which happens every 20 or 30 years because that is about the length of the financial memory. It's about the length of time that it requires for a new set of suckers, if you will, a new set of people capable of wonderful self-delusion to come in and imagine that they have a new and wonderful fix on the future."
58 of 68 people found the following review helpful.
An unsettling and entertaining book
By D. D. LeDu
This Kindle edition consists of two long volumes, published in 1852. It details various mass delusions and obsessions, varying from hair styles to the crusades to financial crises to the burning of witches - and much more.
I enjoyed this book immensely, despite its length, but found it to be unsettling. The details of each of the many events covered are different, but there is an underlying theme that should be a warning to modern man. The author points out that the madness that periodically breaks out among the masses would, hopefully, be less in the future. If only he knew that these follies would continue up to the present day.
Each of the events he described had the same pattern:
Firstly, some individual or small circle of individuals would make a claim. The purpose could be profit, vengeance, or superstition.
Secondly, some larger segment of society (such as the Church, stock jobbers, etc.) would proclaim a societal emergency or, even, a great opportunity.
Thirdly, the masses would adopt, unquestioningly and illogically, the truth of the original claim, often twisting the claim in a manner the originators would not have imagined or possibly approved.
Fourthly, more reasonable men or organizations would be shunned or punished as heretics for failing to accept the popular delusion.
Lastly, the folly would become so reprehensible or unsustainable that it would fade away, only (regrettably) to be replaced by another.
In our times, we consider ourselves modern and rational. Many readers might look on the examples described in this book to be so absurd as to irrelevant to our times. However, our follies follow the same pattern - sometimes more subtle but often just as costly and often more deadly.
I am old enough to remember the great DDT scare. DDT was considered to be the greatest possible threat to mankind, even causing birds to lay thin-shelled eggs that would lead to the extinction of entire species. Those who pointed out the absurdity of these assertions were called "cranks" or worse. No public official or academic dared to challenge the mass appeal of junk science. As a result, deaths from malaria (which due to DDT had been almost eliminated) skyrocketed to millions per year - mostly little brown or black children for whom the Western masses had little concern. And the original claims are now known to be incorrect.
Or the great ozone hole hoax. Since the late 1800s scientists have known that the ozone hole opens and closes in sync with the 11-year sunspot cycle. However, they were cursed and ignored. The mass delirium resulted in many useful products being banned or replaced with less efficient and more costly substitutes. When the hole closed and we did not all die of skin cancer, these regulations were considered the proximate cause and remain in place.
I served as an elected official for a major water agency when the big scare was carcinogens. Great quantities of different chemicals were fed to rats. Those that allegedly caused cancer were banned, even though critics pointed out that great masses of chemicals can cause cancer when small amounts would not. Of course, these critics were decried and abused. When we were forced to spend a billion dollars to remove the last miniscule traces of carcinogens from the water supply, we tried to point out to the environmental agencies that carcinogens occur naturally, especially as defensive mechanisms in plants. In fact, if one were to drink 50 gallons of water per day for his entire life, he would have consumed fewer carcinogens than occur in a level teaspoon of peanut butter.
I could go on with many other current delusions (such as global warming or electric automobiles that allegedly defy Newton's laws by using no energy!). By definitions, mass delusions are accepted in their time by almost all people - people who consider themselves rational and caring. Reading this book will, perhaps, reduce the numbers of the deluded
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