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Extraordinary Popular Delusions & the Madness of Crowds (Wordsworth Reference) / Charles MacKay | |
Publisher: Wordsworth Edition Ltd | |
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Sales Rank: 705759 | |
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In fact, cases such as Tulipomania in 1624--when Tulip bulbs traded at a higher price than gold--suggest the existence of what I would dub "Mackay's Law of Mass Action:" when it comes to the effect of social behavior on the intelligence of individuals, 1+1 is often less than 2, and sometimes considerably less than 0.
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