Madness of Crowds

This episode delves into Charles Mackay’s Extraordinary Popular Delusions and the Madness of Crowds, published in 1841. The book explores various historical events and social movements that were driven by mass delusion and irrationality. The excerpt focuses on the South Sea Bubble, the Mississippi Scheme, alchemy, witchcraft, the Crusades, and dueling. Mackay argues that these episodes reveal how susceptible humans are to collective hysteria and how easily they can be persuaded to embrace unfounded ideas and engage in reckless behavior.