⏪ Let's take you back to the year 1600. The Tulip Mania Bubble, what was it?
The Tulip Mania is considered by many as the first recorded story of a financial bubble, which supposedly occurred in the 1600s. Before discussing if the Tulip Mania was really a financial bubble or not, let’s go through the most common narrative that considers it to be a real bubble.The Tulip Mania took place in the Netherlands, during the Dutch Golden Age.
Depending on the variety, the price of a single flower could easily exceed the income of a skilled worker or even the price of a house. The creation of futures contracts pushed the prices even higher as the flowers didn’t have to physically change hands. It’s said that the bubonic plague also had an impact on the market because people were more inclined to take investment risks.
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