This magnificent masterpiece, written in 1841 by John MacKay, chronicles the follies of man and the nature of the human condition. We are but lemmings headed toward a cliff motivated by sudden advice often times unexpected. The first three chapters of the book reports three of the most extraordinary events in financial history: Tulipomania, The South Sea Bubble and the Mississippi Land Scheme. This book is to scholars Bible of financial folly. Keep track as read articles and comentary to see how often it is referenced in the news. It is probably the most important book you will ever read (not including Catcher in the Rye or the Da Vinci Code). It tells us that there is nothing new under the sun and that as Einstein says, "Only two things are unlimited; the universe and human stupidity. And I am not too sure about the universe."
Here in its digital version of the orignal edition (1841) is Charles MacKay's "Memoirs of Extraordinary Popular Delusions and the Madness of Crowds
For a quick read turn click on the link above and just read to the chapter on "Tulipomania"-- its only 7 pages and is a lifetimes worth of wisdom.
Memoirs of Extraordinary Popular Delusions By Charles Mackay
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