11 books like Memoirs Of Extraordinary Popular Delusions and the Madness of Crowds

By Charles Mackay,

Here are 11 books that Memoirs Of Extraordinary Popular Delusions and the Madness of Crowds fans have personally recommended if you like Memoirs Of Extraordinary Popular Delusions and the Madness of Crowds. Shepherd is a community of 11,000+ authors and super readers sharing their favorite books with the world.

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Book cover of J R

Travis Jeppesen Author Of Settlers Landing

From my list on when you need a heavy dose of satire.

Why am I passionate about this?

Given the state of the world today, laughter truly is the best coping mechanism. The best satire is all about excess in design, intention, characterization, and deployment of attitude. The more extreme, the better; leave restraint to the prudish moralists! 

Travis' book list on when you need a heavy dose of satire

Travis Jeppesen Why did Travis love this book?

If American Psycho is too bloody an evocation of hyper-capitalism for your stomach, try this tragically under-appreciated door-stopper of a novel, in which an eleven-year-old becomes a millionaire by playing the stock market. Written almost wholly in unattributed dialogue! As with Pynchon, everything written by Gaddis deserves to be on this list; alas, alas. 

By William Gaddis,

Why should I read it?

2 authors picked J R as one of their favorite books, and they share why you should read it.

What is this book about?

A National Book Award-winning satire about the unchecked power of American capitalism, written more than three decades before the 2008 financial crisis.

At the center of J R is J R Vansant, a very average sixth grader from Long Island with torn sneakers, a runny nose, and a juvenile fascination with junk-mail get-rich-quick offers. Responding to one, he sees a small return; soon, he is running a paper empire out of a phone booth in the school hallway. Everyone from the school staff to the municipal government to the squabbling heirs of a player-piano company to the titans of Wall…


Book cover of The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron

Samuel Buell Author Of Capital Offenses: Business Crime and Punishment in America's Corporate Age

From my list on corporate crime.

Why am I passionate about this?

I teach the law and enforcement of corporate crime as a law professor. At the outset of the course, I tell the students that corporate crime is a problem, not a body of law. You have to start by thinking about the problem. How do these things occur? What is the psychology, both individual and institutional? What are the economic incentives at each level and with each player? What role do lawyers play? When do regulatory arrangements cause rather than prevent this kind of thing?  If the locution were not too awkward, I might call the field “scandalology.” I love every one of these books because they do such a great job of telling the human stories through which we can ask the most interesting and important questions about how corporate crimes happen.

Samuel's book list on corporate crime

Samuel Buell Why did Samuel love this book?

Because I was a prosecutor on the Enron case, people often ask me what to read about it (or even to explain it to them!). At the time, we used to say that Enron was calculus to every other case’s algebra when it came to corporate financial fraud. Elkind and McLean (McLean had a lot to do with questioning Enron’s narrative before the company’s decline) have done the definitive job of explaining a very hard case in accessible style and detail. The truth is that accounting fraud is a very technical form of corporate fraud, sometimes painfully so. But, as I tell my students, the people who work at companies on these kinds of things are no smarter, and often no older, than my students. They just speak a different language. Don’t let that obfuscate matters. Learn the lingo and follow the money. Smartest Guys allows the general reader to…

By Bethany McLean, Peter Elkind,

Why should I read it?

3 authors picked The Smartest Guys in the Room as one of their favorite books, and they share why you should read it.

What is this book about?

What went wrong with American business at the end of the 20th century?

Until the spring of 2001, Enron epitomized the triumph of the New Economy. Feared by rivals, worshipped by investors, Enron seemingly could do no wrong. Its profits rose every year; its stock price surged ever upward; its leaders were hailed as visionaries.

Then a young Fortune writer, Bethany McLean, wrote an article posing a simple question - how, exactly, does Enron make its money?

Within a year Enron was facing humiliation and bankruptcy, the largest in US history, which caused Americans to lose faith in a system…


Book cover of The Wizard of Lies: Bernie Madoff and the Death of Trust

Alan Prendergast Author Of Gangbuster: One Man's Battle Against Crime, Corruption, and the Klan

From my list on con artists, swindlers, and other big fat liars.

Why am I passionate about this?

My father was a stage magician, and I grew up looking for the gimmick behind the marvel. As a journalist, I gravitated toward true crime and the many varieties of fraud, deception, and misdirection on display in any high-stakes criminal trial. I am particularly fascinated by elaborate cons, whether they involve sideshow mitt readers, political hucksters, or cryptocurrency barons. When I found out that a century ago my hometown was the center of a Big Con operation that raked in millions, I had to learn more. The result is my book Gangbuster

Alan's book list on con artists, swindlers, and other big fat liars

Alan Prendergast Why did Alan love this book?

Out of all the investigative reporting that emerged from the 2008 financial meltdown, Henriques’ account of the scheme that out-Ponzied Ponzi is the book that stays with me.

The Madoff story is about brazen lies and insatiable greed, to be sure, but Henriques’ approach is nuanced, thorough, yet accessible, showing the complacency (one might say complicity) of investors and regulators, dazzled or cowed by Madoff’s magic.

How do you pull off a $65 billion scam? With a lot of help. 

By Diana B. Henriques,

Why should I read it?

2 authors picked The Wizard of Lies as one of their favorite books, and they share why you should read it.

What is this book about?

Who is Bernie Madoff, and how did he pull off the biggest Ponzi scheme in history? In "The Wizard of Lies", Diana B. Henriques of "The New York Times" - who has led the paper's coverage of the Madoff scandal since the day the story broke - has written the definitive book on the man and his scheme, drawing on unprecedented access and more than one hundred interviews with people at all levels and on all sides of the crime, including Madoff's first interviews for publication since his arrest. Henriques also provides vivid details from the various lawsuits, government investigations,…


Book cover of Once in Golconda: The Great Crash of 1929 and its aftershocks

Frank Partnoy Author Of The Match King: Ivar Kreuger, the Financial Genius Behind a Century of Wall Street Scandals

From my list on financial schemes.

Why am I passionate about this?

Frank Partnoy is the Adrian A. Kragen Professor of Law at UC Berkeley, where he co-runs an annual conference on financial fraud and teaches business law. He has written four trade press books (WAITThe Match KingInfectious Greed, and F.I.A.S.C.O.), dozens of scholarly publications, and multiple articles each for The AtlanticThe New York Review of BooksHarvard Business Review, and The Wall Street Journal, as well as more than fifty opinion pieces for The New York Times and the Financial Times. Partnoy has appeared on 60 Minutes and The Daily Show with Jon Stewart, and has testified as an expert before both houses of Congress. He is a member of the Financial Economists Roundtable and has been an international research fellow at Oxford University since 2010.

Frank's book list on financial schemes

Frank Partnoy Why did Frank love this book?

There should be at least one book about the 1920s on this list, and this one deserves mention because it elegantly brings to life several of the most interesting characters from that era. There are some dubious ones, such as Jesse Livermore, the “Boy Plunger” who operated bucket shops, shady financial firms that manipulated stocks with fake news. And there are more legitimate leaders of the era: Pierpont Morgan’s son, Jack, and his brainier partner, Tom Lamont, and the power brokers of Kuhn Loeb. Brooks vividly skewers all of them. He misspelled “Golkonda,” but the essence of his story nails the excesses of the era, and is an apt reminder of how much wealth and economic inequality can result from the Federal Reserve going wild with loose monetary policy.

By John Brooks,

Why should I read it?

1 author picked Once in Golconda as one of their favorite books, and they share why you should read it.

What is this book about?

Once in Golconda "In this book, John Brooks-who was one of the most elegant of all business writers-perfectly catches the flavor of one of history's best-known financial dramas: the 1929 crash and its aftershocks. It's packed with parallels and parables for the modern reader."

Once in Golconda is a dramatic chronicle of the breathtaking rise, devastating fall, and painstaking rebirth of Wall Street in the years between the wars. Focusing on the lives and fortunes of some of the era's most memorable traders, bankers, boosters, and frauds, John Brooks brings to vivid life all the ruthlessness, greed, and reckless euphoria…


Book cover of The South Sea Bubble

Kevin Dowd Author Of Alchemists of Loss: How Modern Finance and Government Intervention Crashed the Financial System

From my list on financial crises.

Why am I passionate about this?

I am Kevin Dowd, a professor of finance and economics at Durham University. I co-authored Alchemists of Loss with Bear’s Lair journalist and ex-merchant banker Martin Hutchinson. Our book discusses the cause of the Global Financial Crisis. Looking over this and many other historical booms and busts, the point that jumps out at me is that the lesson man draws from history is that man learns nothing from it. For it is the doom of men (and women) that we forget.

Kevin's book list on financial crises

Kevin Dowd Why did Kevin love this book?

A classic account of an extraordinary 18th-century British financial and political scandal. The South Sea Bubble centred on the joint-stock South Sea Company, which was founded in 1711. The South Sea Bubble was an ambitious scheme to simultaneously pay off the British government's enormous debts while simultaneously getting rich in London's newly created stock market. The company was given a monopoly of trade with South America but had little prospect of success. The Bubble was an early Ponzi scheme that promised vast returns to early and well-connected investors.

Its collapse in 1720 ruined thousands of shareholders from all walks of life, many of whom had bought their shares on credit, and caused huge problems to banks and goldsmiths unable to collect the loans they had made to speculators to purchase stock. A public uproar ensued and the subsequent investigation revealed widespread fraud by insiders and corruption in the Cabinet.

By John Carswell,

Why should I read it?

1 author picked The South Sea Bubble as one of their favorite books, and they share why you should read it.

What is this book about?

An authoritative account of this extraordinary 18th-century financial, political, and royal scandal, this book describes the drama of the promotion, the insane fever of speculation, and the international impact of the final collapse.


Book cover of Tulipmania: Money, Honor, and Knowledge in the Dutch Golden Age

Hugh Aldersey-Williams Author Of Dutch Light

From my list on understanding the Dutch Golden Age.

Why am I passionate about this?

In my writing about science, I am always keen to include the artistic and literary dimension that links the science to the broader culture. In Huygens, a product of the Dutch Golden Age, I found a biographical subject for whom it would have been quite impossible not to embrace these riches. This context – including painting, music, poetry, mechanics, architecture, gardens, fashion and leisure – is crucial to understanding the life that Huygens led and the breakthroughs he was able to make.

Hugh's book list on understanding the Dutch Golden Age

Hugh Aldersey-Williams Why did Hugh love this book?

Perhaps no one object was more demonstrative of the Dutch thirst for beauty, novelty and showing-off-but-not-showing-off riches than the tulip. The famous mania for these exotic bulbs, bred to produce ever more exotic flowers and to command ever higher prices, supposedly produced the world’s first economic bubble, which burst spectacularly in February 1637.

The truth is less spectacular (few people were involved in the trade and even fewer were ruined) but, in Goldgar’s skilful telling, much richer and more nuanced than the myth. The episode tells us about the growth of maritime trade and the emergence of the modern financial industry (including the important concept of risk) as well as the cultural interests of Dutch people at this exciting time in their history when the accumulation and subtle display of wealth vied in importance with the quest for aesthetic novelty and genuine curiosity about the natural world. One fashion-conscious doctor…

By Anne Goldgar,

Why should I read it?

1 author picked Tulipmania as one of their favorite books, and they share why you should read it.

What is this book about?

In the 1630s, the Netherlands was gripped by tulipmania: a speculative fever unprecedented in scale and, as popular history would have it, folly. We all know the outline of the story - how otherwise sensible merchants, nobles, and artisans spent all they had (and much that they didn't) on tulip bulbs. We have heard how these bulbs changed hands hundreds of times in a single day, and how some bulbs, sold and resold for thousands of guilders, never even existed. Tulipmania is seen as an example of the gullibility of crowds and the dangers of financial speculation.But it wasn't like…


Book cover of Tulip Fever

Lynn Bushell Author Of Painted Ladies

From my list on artists and their muses.

Why am I passionate about this?

As an art historian and painter, I was inevitably drawn to the theme of artists and their muses when I started writing historical fiction. Female, passive, disempowered, and doomed sums up the fate of most muses. History is littered with their corpses - Rossetti’s model Lizzie Siddal committed suicide, Rodin’s model Camille Claudel went mad, Edie Sedgwick, made famous by Warhol, died of an overdose. The title ‘muse’ might offer immortality, but their lives were often hell on earth.  My books set out to understand what drove these women, some of whom were artists in their own right, to make such huge sacrifices. 

Lynn's book list on artists and their muses

Lynn Bushell Why did Lynn love this book?

The muse occupies a slightly different role in Deborah Moggach's novel in that she spends a large part of the book supposedly already dead. Muses often exerted a posthumous influence on their artists, usually reflecting a legacy of guilt on the artist's part for his mistreatment or neglect. (Rossetti is a case in point. He had all his poems buried with his muse Lizzie Siddal, only to request permission to exhume them years later.) The painter, in this case, Jan van Loos, remains true, spending his life painting portraits of his muse Sophia and their love. Perhaps to be a muse, even a dead one, wasn't all bad.         

By Deborah Moggach,

Why should I read it?

1 author picked Tulip Fever as one of their favorite books, and they share why you should read it.

What is this book about?

'A gorgeous novel' Mail on Sunday

From the bestselling author of The Best Exotic Marigold Hotel comes a thrilling story of power, lust and deception...

Seventeenth-century Amsterdam - a city in the grip of tulip fever.

Sophia's husband Cornelis is one of the lucky ones grown rich from this exotic new flower. To celebrate, he commissions a talented young artist to paint him with his beautiful bride. But as the portrait grows, so does the passion between Sophia and the painter; and ambitions, desires and dreams breed an intricate deception and a reckless gamble.

Now a major film starring Oscar…


Book cover of The Price of Water in Finistère

Mark Greenside Author Of (Not Quite) Mastering the Art of French Living

From my list on the magic of Brittany France.

Why am I passionate about this?

Mark Greenside has been a civil rights activist, Vietnam War protestor, anti-draft counselor, Vista Volunteer, union leader, and college professor. He holds B.S. and M.A. degrees from the University of Wisconsin and his stories have appeared in numerous journals and magazines. He presently lives in Alameda, California, where he continues to teach and be politically active, and Brittany, France, where he still can’t do anything without asking for help.

Mark's book list on the magic of Brittany France

Mark Greenside Why did Mark love this book?

In 2000, angry at the state of the world, a fifty five year old acclaimed Swedish writer, sells her home and most of her belongings, leaves her homeland, and drives west with no destination in mind. She’s alone, but not lonely, searching for peace and freedom and a break with the past. She stops where the land ends, at the end of the world, Finistère, Brittany, where she buys a house, meets Madame C, and plants a garden. 

“It’s so wonderful here that one should write a book about it,” she tells Madame C, and spends the rest of the book refusing to write it, because to do so, she says, will diminish, simplify, and transform everything she loves about her new home. She’s like the banker who thinks money is filth and saves it; she’s the writer who distrusts words and writes—a memoir.

She writes about planting, tending, thinking,…

By Bodil Malmsten,

Why should I read it?

1 author picked The Price of Water in Finistère as one of their favorite books, and they share why you should read it.

What is this book about?

'In the same way as there's a partner for every person, there's a place. All you have to do is find the one that's yours among the billions that belong to someone else, you have to be awake, you have to choose.'

With this conviction in mind, acclaimed Swedish writer Bodil Malmsten abandons her native country at the age of fifty-five and settles in Brittany.

At the heart of this memoir is the conviction that the happiness to be found in Finistere will not allow itself to be, cannot be, expressed in writing. Embroidered around this seeming paradox are poignant,…


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