Hard to believe that a book written in the early nineteenth century could be a total page turner today. But it is.

Extraordinary Popular Delusions and the Madness of Crowds tells a series of stories of times when it seemed the whole world went crazy.

If you’ve ever wondered why groups of people collectively fall into the same irrational beliefs and speculative frenzies, you’ll love this book. Through historical episodes such as the Tulip Mania, the South Sea Bubble, and the Mississippi Scheme, Mackay shows how social contagion, greed, and fear can drive entire societies into financial and intellectual madness. The book remains widely cited because it illustrates a recurring pattern: while individuals may think rationally, crowds often do not—especially when money and excitement are involved.