The beginning of the book covers the investment fads such as, the Tulip Mania
(1635), John Law's Mississippi Scheme (1720), and the South Sea Bubble (1721).
If you ever wondered why the Dutch have tulip mania
or why people have a passion for flowers at all, then Stuart's history of gardening will help you understand.
Descanso Gardens will kick off its annual Spring Festival of Flowers with Tulip Mania
today through March 25.
Investment, however, could be a risky business, as the tulip mania
of the 1630s demonstrates.
It bids fair to make the tulip mania
and the Mississippi bubble look like temporary blips on an otherwise sound financial scene.
From the 17th-century tulip mania
in Holland to the tech bubble in the late 20th century, economic bubbles grow rapidly and grow large when transparency wanes.
While our knowledge about the asset bubbles might not be markedly wiser than the days of the Tulip Mania
in 1600s, there is consensus on the following.
The bubble burst in 1637 when prices crashed spectacularly and people were left with worthless bulbs, but if Holland's Keukenhof gardens are anything to go by, Tulip mania
is alive and well.
It's time to dig down into the back of the closet and drag out your wooden clogs: Tulip Mania is bursting into color at Descanso Gardens.
Descanso Gardens begins celebration of the monthlong Tulip Mania festival
Market booms and busts, tulip manias
and dotcom bubbles, venture capitalists and vulture funds, he lets you know, are best explained not by dry statistics and obscure theories but by the metaphors and analogies of literature.