BURNING DOWN THE HOUSE

“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…

In February 1720 an edict was published, which, instead of restoring the credit of the paper, as was intended, destroyed it irrecoverably, and drove the country to the very brink of revolution…”

Charles MacKay, Extraordinary Popular Delusions and The Madness of Crowds

7 thoughts on “BURNING DOWN THE HOUSE”

    1. “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.”

      Charles Mackay

       

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