In the course of these hebdomadal reports, I have often had occasion to mention Charles Mackay’s 1841 masterpiece Extraordinary Popular Delusions and the Madness of Crowds. The title should be inscribed as a talisman somewhere in the homes of the credulous. Mackay’s account of various “moral epidemics”—the South Sea Bubble, Tulipomania, Witch Hunting, etc.—is amusing until one steps back and realizes that we modern sophisticates are just as susceptible to the sorts of “folly and delusion” Mackay anatomizes as was any seventeenth-century Dutchman who mortgaged his house to purchase a single tulip bulb.
Certain insects undergo periods of dormancy before suddenly erupting in a destructive swarm. So it seems to be with society’s appetite for panic. How long can we go without indulging in the catharsis of a panic? How many society-wide panics have we witnessed in the last few decades? There was the “global cooling” scare when we were warned that a new ice age was upon us. Then there was the “global warming” scare, which is still going strong. “Some say the world will end in fire/Some say in ice.” Al Gore is going with fire. Chicken Little warned about a “population bomb” in which untold multitudes would precipitate mass starvation and lead governments to force sterilization upon their polyphiloprogenitive charges. Now we are being warned about a terrifying birth dearth. I can imagine that, should a new Charles Mackay arise, such episodes would be included in an updated edition of Extraordinary Popular Delusions and the Madness of Crowds.
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