Extraordinary Popular Delusions and the Madness of Crowds: Volume 1 — The system behind herd mania
Welcome to Crisis in Perception, where we examine the systems shaping our world.
Author: Charles Mackay
This episode explores Extraordinary Popular Delusions and the Madness of Crowds, Volume 1 by Charles Mackay as a systems-level analysis of how collective belief, speculative credit, and herd psychology influence behavior, belief, and institutional outcomes.
By focusing on incentive architecture rather than personalities or events, the episode shows why these systems persist — and how they connect to larger economic, political, and cultural structures.
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The skinny
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