Tulip Mania

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Tulip Mania

History's first major asset bubble. Tulips were introduced to Europe from the Ottoman Empire in the mid-1500s and became very popular in the Netherlands. As they grew in popularity, prices for tulips rose steadily, then unsustainably, in the 1630s. Prices suddenly collapsed in February 1637. Interestingly, tulip mania resulted in the creation of a formal futures market and marked one of the first times when contracts were traded without exchanging the underlying asset.
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Tulipmania was the result of financial market irrationality.
A visitor looks out at the flowers at Tulipmania floral display in the flower dome at Garden by the Bay in Singapore.
From Tulipmania in Rembrandt's Amsterdam to subprime lunacy in Bernanke's New York, the lessons of markets are always learnt the hard way.
Traditional examples include the Dutch Tulipmania, and the 1929 Great Crash in the United States.
104) ANDREI SHLEIFER, INEFFICIENT MARKETS: AN INTRODUCTION TO BEHAVIORAL FINANCE 172 (2000) (citing several examples, including futures contracts on tulips during the Tulipmania of the 1630s).
The Tulipmania in Ottawa is celebrated with 10,000 tulip bulbs that were gifted by Holland for saving the Dutch royal family about half a century ago.
The term tulipmania is now used to refer to any large economic bubble.
The Dutch Tulipmania occurred during the origins of modern capitalism, and the 1920's represented the zenith of unrestricted commerce.
The exhibition Tulipmania displayed the new works of artist Ali Bilgrami who combined contemporary miniature painting, drawing and liquid light prints.
Booms and busts; an encyclopedia of economic history from tulipmania of the 1630s to the global financial crisis of the 21st century; 3v.
TULIPMANIA is rife in gardening circles and it's easy to see why as they fill the garden with colour and shape in late spring.
Booms and busts: An encyclopedia of economic history from Tulipmania of the 1630s to the global financial crisis of the 21st century.