Tulip Mania: The First Economic Bubble Caused by Speculative Dutch Investors

Tulip Mania, often considered the first recorded speculative bubble in history, took place during the Dutch Golden Age in the early 17th century. This period saw some tulip bulbs, which had been newly introduced to Europe, achieve extraordinary prices. The peak of the tulip market occurred in 1634, with prices reaching unbelievable levels before plummeting drastically in February 1637. This event is frequently cited as an early example of an asset bubble, where the prices of goods diverged ...