21 Books Like One-Way Pockets

Though not a volume pertaining to “hard science,” Mackay’s book is an early and essential inquiry into “group psychology” long before the phrase was coined. I used this and Kuhn’s books as background when writing World on Fire.

Why do perfectly respectable people act against their own self-interests, often violently, I wondered, when drawn into the seductive folds of a crowd? Mackay wrote his first edition in 1841, just a few decades after the convulsions that swallowed up Priestley and Lavoisier, then updated it in 1852: he chronicled the spreading group madness of such historical phenomena as the South Sea Bubble, “alchymists,” the Crusades, witch manias, and the “popular admiration of great thieves.”

Mackay’s 1852 preface crystallized his theme with the question: “Men, it has been well said, think in herds; it will be seen that they go mad in herds while they only recover their senses slowly and one… show more.

This is one of my favorite books because rather than observing the follies of others, this author details his own. Reading it is like watching a tragedy when you already know the well-meaning protagonist is going to die.

The author chose to remain anonymous for obvious reasons: He thought he was a rare fool. But getting wiped out happens all the time, to many people. If you want to experience vicariously a dangerous thrill ride that you may or may not already have taken, this is your ticket. The book is out of print and hard to find.

This book helps us understand why all the sheep around us are illogically but emotionally walking over the cliff into World War III.

We imagine ourselves as individual agents making our own free will choices, but actually, we are walking, talking bundles of feelings who desperately wish to be judged by other sheep as good members of a tribe. We move as a herd, and to war again the crowd is going. We chant, “Follow the Leader.” But we follow the followers.

When I was at Yale, Professor Irving Janis became aware of my interest in mass psychology and asked if I would be interested in seeing a manuscript he was working on. I jumped at the chance and soon was reading Victims of Groupthink.

The book relates histories of bureaucratic decision-making that went wrong. Janis postulated that in a group setting, people defer the hard work of reasoning to others, whom they assume must be working on the problem. As a result, no one works on the problem, and whatever decision emerges derives from the dynamics of group psychology. This book is out of print and hard to find.

And here we are, in the Roaring Twenties, the decade that showed a nation how much trouble an unruly Wall Street can cause the country! The late John Brooks of The New Yorker had a gift for romping through important financial history in the most entertaining way possible. I discovered this gem of his when I was new to covering Wall Street; I’ve turned to it countless times since, both for the facts and for the fun! 

Who doesn’t love seedy stories about wealth, excess, and defiance of social norms – especially when those norms relate to women?

This book has it all by telling the story of Rebekah Harkness, a woman who went from nothing to Standard Oil heiress, throwing lavish parties and elaborate ballets along the way. Rebekah became Taylor Swift’s muse in the song “The Greatest American Dynasty” on her Folklore album, and Taylor even bought Rebekah’s Holiday House in Rhode Island, which she still owns today.

Once I started this book, the storyline of a misunderstood, dramatic woman being blamed for everything that went wrong around her made it impossible to put down!

Everyday neighbors acting to fix our own problems is in our founding DNA. Over the last 125 years, another tradition has grown up in our country: the expectation that anyone who makes it really big will subsequently give away lots of wealth to help others prosper.

The archetype for this was John D. Rockefeller, and this is the best narrative of his success—first as a business mogul and then as the most influential philanthropist in history. Rockefeller made many wise gifts that elevated living standards, science, religion, food production, medical research, and more.

The Almanac of American Philanthropy calculates that more than 60 Nobel laureates in medicine, biochemistry, and health had their work accelerated by Rockefeller gifts. 

This is another book by a short-term trader. And it reads like a novel. It’s truly a fascinating book about making money in the stock market. Darvas is honest and talks about how lucky he has been on many occasions. What I love most is that this book is from 1960! It’s not a get-rich-quick scheme or whatever.

Darvas, who passed away in 1977, was actually a professional dancer who loved trading stocks. He didn’t try to sell his ideas. He simply wrote an honest account of how he made his money. Much of his knowledge on investing is self-learned, which is how most ordinary folks learn about the stock market. That’s why I highly recommend his book.

For creatives, this book is the move. Many writers who find themselves in reading lulls, also find themselves in writing lulls. Over the last two decades, writing professor Susan Shapiro has taught more than 25,000 students of all ages and backgrounds at NYU, Columbia, Temple, The New School, and Harvard University. And now the content from her wildly popular course “Instant Gratification Takes Too Long” is in this book for everyone who wants to get published fast, and with all the best secrets of the trade.

Byline Bible is full of advice for writers on how to break into publishing, but also includes tons of essays and pieces published by Susan Shapiro’s students, which make for great reading in and of themselves. 

I love it because it describes exactly how Wall Street used to work in the bad old days of the early 1900s, before the Great Crash and the Great Depression, before sweeping reforms turned it into what is today. I learned so much from this story about the characters who dominated the Street and set it up for failure.

I see all sorts of parallels with the growth of cryptocurrencies and the scams that surround that industry. I love the way Sinclair describes the Wild West, the ferociously greedy mentality of the players back then, and how he details the machinations of Ponzi schemers and fraudsters before there were any laws barring such scoundrels from doing whatever they pleased with gullible investors’ money.