Charles Mackay

Definition and stakes

Charles Mackay,  Memoirs of Extraordinary Popular Delusions…

“ This was the crisis of the delirium. In the midst of it, the chief actor made his appearance, waving his wand, like Prospero, to work new wonders. Dressed in a long robe of lilac-coloured silk, richly embroidered with gold flowers, bearing in his hand a white magnetic rod; and, with a look of dignity which would have sat well on an eastern caliph, he marched with solemn strides into the room. He awed the still sensible by his eye, and the violence of their symptoms diminished. ”
Source: Gutenberg

Charles Mackay,  Memoirs of Extraordinary Popular Delusions and the Madness of Crowds

“ Strong in the royal favour, he did not hesitate to oppress the poor by continual acts of forestalling and monopoly. As there is no enemy so bitter as the estranged friend, so of all the tyrants and tramplers upon the poor, there is none so fierce and reckless as the upstart that sprang from their ranks. The offensive pride of Jacques Cœur to his inferiors was the theme of indignant reproach in his own city, and his cringing humility to those above him was as much an object of contempt to the aristocrats into whose society he thrust himself. ”
Source: Gutenberg

Charles Mackay,  Memoirs of Extraordinary Popular Delusions…

“ Nobody seemed to imagine that the nation itself was as culpable as the South Sea Company. Nobody blamed the credulity and avarice of the people,—the degrading lust of gain, which had swallowed up every nobler quality in the national character, or the infatuation which had made the multitude run their heads with such frantic eagerness into the net held out for them by scheming projectors. These things were never mentioned. The people were a simple, honest, hard-working people, ruined by a gang of robbers, who were to be hanged, drawn, and quartered without mercy. ”
Source: Gutenberg

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