Tulip Mania

(redirected from Tulipomania)
Also found in: Dictionary, Encyclopedia, Wikipedia.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
Mentioned in ?
References in periodicals archive ?
Recorded history declares that through a combination of knowledge, power, and secrecy, Clusius spurred on the passions of tulipomania as he transformed the tulip into a much desired and glamorous commodity.
Although he is content to avoid the moral refrain about how markets always crash, many other writers and commentators who have invoked tulipomania have made it a cautionary tale, usually in an attempt to puncture a market in the grip of a Yukon fever or to question the shibboleth of price equilibrium.
Tulipomania concludes with a few non sequiturs about horticultural history; Dash stubbornly refuses to say anything substantive about finance.
The movie is set during the 17th century "tulipomania" in Holland when new tulip cultivars were in such demand that a single bulb could command a price of $40,000.
Tulipomania spread to France, where high prices were paid for the best striped tulips, and then to the rest of Europe.
When tulips reached Holland, breeders there continued to experiment, tulipomania swept the country, and hybrids came to dominate the market.
Tulipomania: The Musical, in a world premiere run at Philadelphia's Arden Theatre Company May 24 July 1, takes a fresh look.
The next piece, Tulipomania refers to what Allen Greenspan dubbed "irrational exuberance" during the housing boom leading to the burst of the bubble and the calamity of the Great Recession of 2008, not unlike the tulip craze that took place in 17th century Holland.
In Holland, the financial hysteria called tulipomania reached its peak 100 years later when bulbs changed hands for thousands of pounds each.
You might call her condition "tulipomania," except such a term already applies to a historical affliction suffered by Dutch gardeners and traders of the 1630s.
It was called Tulipomania, and people spent huge sums of money on a single bulb.
Events such as the "Popish Plot" hysteria in England or the "tulipomania" of speculation in worthless Dutch bulbs might fall into this category.