Skip to content
Andrew Tobias
Andrew Tobias

Money and Other Subjects

  • Home
  • Books
  • Videos
  • Bio
  • Archives
  • Links
  • Me-Mail
Andrew Tobias
Andrew Tobias

Money and Other Subjects

Extraordinary Popular Delusions, Part II

October 21, 1999February 13, 2017

Voila! Extraordinary Popular Delusions and the Madness of Crowds, by Charles Mackay.

The truth is, having been written in 1841, and in England, it does not read like John Kenneth Galbraith. Apart from the odd spellings, there are loads of references I do not get — any more than a reader would have heard of Jerry Springer 160 years from now. Or Pokemon.

But the preface is quite short, and there is no harm in skipping straight through to the tulips.

Indeed, that’s what I’d suggest. Take a minute or two to read the preface, to meet Mackay, then jump to the tulips. Once you’re hooked, read the other two — the Mississippi Scheme and the South-Sea Bubble.

Missing from all this (97 pages in book form) are the final 627 pages. You would think they would be wonderful — how could tales of alchemists and necromancers not be wonderful? — but really they are more like lists of alchemists and necromancers. Trust me. Especially as regards money and economics, the sections I’ve posted are the ones you want to read. (For the complete book, also free, see Project Gutenberg.)

Post navigation

← Are Internet Stocks Today’s Tulips?
Dow 36,000? →

Quote of the Day

"Banking establishments are more dangerous than standing armies."

Thomas Jefferson

Subscribe

 Advice

The Only Investment Guide You'll Ever Need

"So full of tips and angles that only a booby or a billionaire could not benefit." -- The New York Times

Help

MYM Emergency?

Too Much Junk?

Tax Questions?

Ask Less

Recent Posts

  • Quick Takes From Four Heroes

    June 3, 2026
  • Items That Have Caught My Eye

    June 2, 2026
  • PRKR Hopes

    June 1, 2026
  • The Emperor And The Gladiators

    May 31, 2026
  • The Worst Of The Worst

    May 30, 2026
  • 45 Must-See Seconds

    May 29, 2026
  • Oh, My!

    May 28, 2026
  • The Battle For American Identity

    May 27, 2026
  • In Defense Of Ken Martin

    May 25, 2026
  • The DNC Autopsy

    May 23, 2026
Andrew Tobias Books
  • Facebook
  • Twitter
©2026 Andrew Tobias - All Rights Reserved | Website: Whirled Pixels | Author Photo: Tony Adams