Memoirs of Extraordinary Popular Delusions and the Madness of Crowds

Charles Mackay's 1841 work "Memoirs of Extraordinary Popular Delusions and the Madness of Crowds" is an early study of crowd psychology that examines humanity's susceptibility to collective manias through historical examples including financial bubbles, witch trials, and religious crusades. The book uses anecdotes and storytelling to debunk popular delusions, from Dutch tulip mania to the influence of politics on fashion, and its analysis of economic bubbles remains influential in helping financiers understand and predict market speculation today.