Extraordinary popular delusions and the madness of crowds

This is a book to have in these days. The mob immediately set upon him, and thinking that Law was in the carriage, broke it to pieces. But basically, the book could also be summarized by this, people are stupid.

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Extraordinary Popular Delusions and the Madness of Crowds

The directors were alarmed, and gave their agents orders to buy. The duke, a thorough aristocrat, was as shocked as they were that a noble assassin should die by the same death as a plebeian felon, and represented to the regent the impolicy of making enemies of so numerous, wealthy, and powerful a family.

Notwithstanding every effort to the contrary, the precious metals continued to be conveyed to England and Holland. Letters Patent were issued and the company registered with two hundred thousand shares of five hundred lives each. First off, many of the editions in Amazon are partial reprints of the original edition.

Extraordinary Popular Delusions and the Madness of Crowds by Charles Mackay

They made every arrangement for rendering their temporary exile as agreeable as possible. Sensible men beheld the extraordinary infatuation of the people with sorrow and alarm. The edifice thus reared might not unaptly be compared to the gorgeous palace erected by Potemkin, that princely barbarian of Russia, to surprise and please his imperial mistress: In later editions, Mackay added a footnote referencing the Railway Mania of the s as another "popular delusion" which was at least as important as the South Sea Bubble.

But it did not follow that all these people believed in the feasibility of the schemes to which they subscribed; it was enough for their purpose that their shares would, by stock-jobbing arts, be soon raised to a premium, when they got rid of them with all expedition to the really credulous.

He gave away great sums privately, and no tale of real distress ever reached his ears in vain. A proven path to money maste She had hammered at it for some time, but the skull was so enormously thick, that she made no impression upon it.

Extraordinary Popular Delusions

Paracelsus was the first to practice the art of healing by magnetism. But such was the hatred against Law that the experiment had well nigh proved fatal to him. The earl stayed for a considerable time, played a game of piquet with his countryman, and left him, charmed with his ease, good sense, and good breeding.

They had done more than the crown, the pulpit, or the bench could do. The Count ——a man of some weight in the government, called upon him, and offered to procure a remission of the fine if he would give him a hundred thousand crowns.

In February, it was judged advisable that the Royal Bank should be incorporated with the Company of the Indies.

It also allows one to ignore the quackery in conventional medicine. Several peers spoke warmly against the scheme; but their warnings fell upon dull, cold ears.

Extraordinary Popular Delusions and the Madness of Crowds - Wikipedia

We see one nation suddenly seized, from its highest to its lowest members, with a fierce desire of military glory; another as suddenly becoming crazed upon a religious scruple; and neither of them recovering its senses until it has shed rivers of blood and sowed a harvest of groans and tears, to be reaped by its posterity. For cotton and woollen goods, with which we could supply them in abundance, the dwellers in Mexico were to empty their golden mines. Other sciences resorted to prying into the future were: Given that these economists are described as "skeptical of speculative bubbles in general," and that these criticisms appeared long before the current economic crisis brought on by the housing and derivative busts, I'm going to go with Mackay on this one.

A cobbler, who had a stall in it, gained about two hundred livres a day by letting it out, and furnishing writing materials to brokers and their clients. None ever reached the holy land. The Prince de Robec Montmorency, despairing of other methods, found means to penetrate into the dungeon of the criminal, and offering him a cup of poison, implored him to save them from disgrace.

Must say that I was a little disappointed with this book. The crowds around the bank were so great, that hardly a day passed that some one was not pressed to death.

There is too much buffering. Apr 24, Enkhtur rated it it was amazing Shelves: In the course of ten to twenty year afterwards, tulips were much sought after by the rich and famous of Holland and Germany. Lists with This Book.

Law was now on the high road to fortune.

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