The Delusions of Crowds

Interesting Facts

• The book reveals the astonishing ability of the human mind to succumb to collective illusions, when even the most rational people become prisoners of mass delusions.
• The author skillfully draws parallels between financial bubbles and psychological phenomena, showing how fear and greed can turn markets into theaters of the absurd.
• Historical catastrophes caused by blind following of the crowd come alive on the pages of the book, whether it is tulip mania in Holland or the dot-com crash, turning economic chronicles into a gripping narrative.
• Special attention is given to how myths and rumors, spreading at unprecedented speed, can destroy entire fortunes and destinies like an unstoppable hurricane.
• Bernstein elegantly shows that even in the information age, people remain vulnerable to the temptation of collective madness, and true wisdom requires the courage to go against the current.