![]() ![]() In the 21st century, the mathematician Andrew Odlyzko pointed out, in a published lecture, that Mackay himself played a role in this economic bubble as a leader writer in The Glasgow Argus, Mackay wrote on 2 October 1845: "There is no reason whatever to fear a crash". In later editions, Mackay added a footnote referencing the Railway Mania of the 1840s as another "popular delusion" which was at least as important as the South Sea Bubble. Grover Gardner is an award-winning narrator with over a thousand titles to his credit. He is remembered mainly for his book Extraordinary Popular Delusions and the Madness of Crowds, written in 1841. Present-day writers on economics, such as Michael Lewis and Andrew Tobias, laud the three chapters on economic bubbles. About the Author Charles Mackay (1814-1889) was a Scottish poet, journalist, author, anthologist, novelist, and songwriter. The subjects of Mackay's debunking include alchemy, crusades, duels, economic bubbles, fortune-telling, haunted houses, the Drummer of Tedworth, the influence of politics and religion on the shapes of beards and hair, magnetisers (influence of imagination in curing disease), murder through poisoning, prophecies, popular admiration of great thieves, popular follies of great cities, and relics. ( The Great Picture of Folly, 1720) A satirical "Bubble card" Memoirs of Extraordinary Popular Delusions and the Madness of Crowds, Volume 2 Charles Mackay Office of National illustrated library, 1852 - Hallucinations and illusions 1 Review Reviews. Close ▲ "Night wind hawkers" sold stock on the streets during the South Sea Bubble. ![]()
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