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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But not always: whereas the Wall Street boom of the 1920s ended in the Great Depression, the tulip bubble of the 1630s seems to have had little impact on the Netherlands' medium-term growth path.
Many outside observers will chalk up crypto as yet another tulip bubble.
Yes, is probably the short answer, although perhaps not to the same extent as with the tulip bubble because of the difference in technology and communications between the 17th century and today.
And before that, there was the Dutch tulip bubble of the 1630s.
They should also pay more attention to the new trends and rules of the post-credit crisis world as well a the long history of asset price bubbles going back to the Dutch Tulip Bubble in the 17th century.
If we speak about psychological factor[s], it's interesting that economic bubbles have been a constant reality in human history--going back to the Dutch tulip bubble in the 18th century.
Goldgar deftly dispels many of the long-held myths about the devastating blow the crash made on the overall health of the Dutch economy and even notes that the commentators and playwrights greatly exaggerated the number of individual hardships and bankruptcies associated with the popping of the tulip bubble.
The tulip bubble may be better known, but we have almost no reliable price data for it.
For the great economic historian Charles Kindleberger, the tulip bubble serves as a prime example of speculation.
The tulip bubble is one of the great legendary bubbles of all time, but there were just so many tulips that Dutch growers could plant, and there were just so many potential tulip buyers.
Unlike the tulip bubble in 17th-century Holland (where the price of rare tulip bulbs rose to levels higher than many large homes and estates), there is real value in Lebanese property - but it remains unclear exactly how much.