Showing posts with label Economic Bubbles. Show all posts
Showing posts with label Economic Bubbles. Show all posts

Wednesday, February 1, 2012

Quote of the Day (Charles Mackay, on Nations as ‘Desperate Gamblers’)


"Money…has often been a cause of the delusion of multitudes. Sober nations have all at once become desperate gamblers, and risked almost their existence upon the turn of a piece of paper…. 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."--Historian Charles Mackay, Extraordinary Popular Delusions and The Madness Of Crowds (1841)