Fisher's Drawing Room Scrap Book

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5.0
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Additional Information

Publisher
Fisher, Son, and Jackson
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Published on
Dec 31, 1838
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Pages
216
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Language
English
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This content is DRM free.
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Charles Mackay
Today, as in the time of the South Sea Bubble, human nature is drawn like a moth to flame by the speculative fads of the marketplace. The excitement of new glamour issues in electronics or medical technology, the general euphoria over a rising market; these lure even many experienced investors. Their optimism overcomes their better judgment. They abandon critical analysis of the investment's fundamental value. Like gamblers in a casino they play against the odds, paying inflated prices and dreaming of quick profit.” — from the foreword by John Marks Templeton

Mackay's classic, first published in 1841, studies the psychology of crowds and mass mania throughout history, including accounts of classic scams, grand-scale madness, and deceptions. Some of these include the Mississippi scheme that swept France in 1720, the South Sea Bubble that ruined thousands in England at the same time, and the tulip mania of Holland, when fortunes were made and lost on single tulip bulbs.

Other chapters deal with fads and delusions that often spring from valid ideas of causes, many of which still have their followers today: alchemy and the philosopher's stone, the prophecies of Nostradamus, the coming of comets and judgment day, the Rosicrucians, and astrology.

Time and again we can avoid disastrous pitfalls and learn to profit by seeing the ways that history repeats itself. Fascinating, mesmerizing, strikingly strange, and amazingly shrewd, this book will never be forgotten and cannot be ignored.

Charles MacKay
In reading the history of nations, we find that, like individuals, they have their whims and their peculiarities; their seasons of excitement and recklessness, when they care not what they do. We find that whole communities suddenly fix their minds upon one object, and go mad in its pursuit... -from the Preface The satanic child-abuse mania of the 1980s. The dotcom craze of the 1990s. The housing bubble of the 2000s. It may seem like we today invented mass insanity, but it's always been with us, as this classic expose of the madness of humanity demonstrates in a way that's both disturbing and highly entertaining. First published in 1841 across multiple volumes but presented here in one omnibus volume, this enlightening work explores such societal delusions and aberrations as: [ the Mississippi Scheme, in which an 18th-century Scottish financier created a stock bubble in France for land in the New World [ the infamous tulip mania that seized Holland in the 1600s [ the grip that alchemists, with their claims of turning lead to gold, held over the European imagination during the Enlightenment [ the centuries-long Crusades of the Middle Ages [ the witch hunts that plagued both sides of the Atlantic in the 17th, 18th, and early 19th centuries [ and many more. A powerful study of human psychology on a cultural scale, this important work is startlingly relevant today... as it's sure to still be centuries from now. Scottish journalist CHARLES MACKAY (1814-1889) held an honorary law degree from Glasgow University, as well as a doctorate in literature. A renowned poet and songwriter, he also authored a Dictionary of Lowland Scotch.
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