Also see Volume II.

Originally published in 1841 in 3 volumes. See the QFinance review.

• Examines the psychology of crowds and mass mania throughout history, including many of the classic scams, financial bubbles, mass hysteria, and deceptions that have characterized the business world and beyond.

• At once a gripping thriller and fascinating historical document, the book discusses the underlying processes that lead markets into boom-and-bust cycles that still occur today.

• Considers why people form into irrational groups when they engage in collective action.

“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one.” pg. viii

“Money, again, has often been a cause of the delusion of the multitudes. Sober nations have all at once become desperate gamblers, and risked almost their existence upon the turn of a piece of paper.” pg. viii