First speculative bubble - 17th century Holland(en.wikipedia.org)
en.wikipedia.org
First speculative bubble - 17th century Holland
http://en.wikipedia.org/wiki/Tulip_mania
Probably the first speculative bubble.
1 comments
One of the funniest stories surrounding the 'Tulip craze' was that a captain of a long distance sea voyage upon returning to the Netherlands found himself in the ante-room waiting for his masters to hear his report.
He stood there for a while being ravenously hungry, and spotting an onion on a little plate made short work of it with his pocket knife.
Imagine his surprise when he found himself in the brig for eating a 'prized possession', he'd just eaten a Tulip bulb that at the market rate of the time was worth more than his ship.
--
That's from memory, I'm not sure how accurate it is, or even if it is true, it was in our history books in school. But still, even if it is just a story it illustrates nicely just how 'crazy' the Tulip craze really was.
He stood there for a while being ravenously hungry, and spotting an onion on a little plate made short work of it with his pocket knife.
Imagine his surprise when he found himself in the brig for eating a 'prized possession', he'd just eaten a Tulip bulb that at the market rate of the time was worth more than his ship.
--
That's from memory, I'm not sure how accurate it is, or even if it is true, it was in our history books in school. But still, even if it is just a story it illustrates nicely just how 'crazy' the Tulip craze really was.