Memoirs of Extraordinary Popular Delusions and the Madness of Crowds

First published in 1841, Memoirs of Extraordinary Popular Delusions and the Madness of Crowds is an engaging exploration of the factors that motivate irrational decision-making on a large scale. One of the first major works on crowd psychology, Charles Mackay’s classic study was originally divided into three volumes: ‘National Delusions,’ ‘Peculiar Follies’ and ‘Philosophical Discussions.’ All three are included in this collection, which provides readers with the complete contents of Mackay’s discussion.

In an eclectic and broad-ranging investigation, Mackay explores various historical episodes that illustrate the titular ‘madness of crowds.’ This survey takes in a wide range of phenomena, including witch hunts, alchemy, and the influence of politics and religion on beard length. Also included are three chapters on economic bubbles, which remain a key resource for contemporary economists.

More than 150 years on from its publication, this bold and extensive study offers valuable insights that can help us process and understand the world as it is today. This influential work is also a fun and accessible read and reflects Mackay’s background as a journalist. It's a book to ensnare both academic and non-academic readers, from the Oxford professor to the armchair historian.