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#masspsychology — Public Fediverse posts

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  1. Crowd psychology meets behavioral economics, and the result isn’t Jekyll becoming Hyde—it’s Hyde on a megaphone.

    Le Bon argued that rational individuals lose their reason in a crowd. But modern behavioral science shows the “rational individual” never existed in the first place.

    #BehavioralEconomics #Econ #Economics #CrowdPsychology #Kahneman #Ariely #Blog #Reason #MassPsychology #Groupthink #Philosophy #DecisionMaking #Psychology #Crowds #Madness #MentalHealth #Crazy #Science #Enlightenment

  2. “Mackay’s masterwork sets out in crystalline and quotable prose how men and women throughout history have been hustled, scammed, bamboozled and willingly led astray by themselves or others.”

    —Memoirs of Extraordinary Popular Delusions & the Madness of Crowds is available as a free ebook from @gutenberg_org

    3/3

    gutenberg.org/ebooks/24518

    #Scottish #literature #19thcentury #Victorian #psychology #masspsychology #economics #stockmarket #bubbles

  3. “Charles Mackay's book … enjoys extraordinarily high renown in the financial industry and among the press and the public. It also has an extraordinarily low reputation among historians. […] Mackay’s story provides another example of a renowned expert on bubbles who decides that ‘this time is different.’”

    —Andrew Odlyzko, SSRN, 26 Feb 2011
    2/3

    papers.ssrn.com/sol3/papers.cf

    #Scottish #literature #19thcentury #Victorian #psychology #masspsychology #economics #stockmarket #bubbles

  4. “its power as a starter in crowd psychology comes from Mackay’s insistence on humanising the follies he describes. No macroeconomic constructs here – just good old greed, optimism, superstition & cunning plans”

    —Charles Mackay (1814–1889) was born #OTD, 27 March – best remembered today for his 1841 book Extraordinary Popular Delusions & the Madness of Crowds

    1/3

    peterharrington.co.uk/blog/the

    #Scottish #literature #19thcentury #Victorian #psychology #masspsychology #economics #stockmarket #bubbles

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