These beautiful tulips flourishing now remind me an interesting story from almost four-hundred years ago, the “Tulip mania” that is much more recorded as an interesting case for economy than for gardening.
The Tulip mania was a period during the Dutch Golden Age when contract prices for some tulip bulbs reached extraordinarily high levels. The major acceleration started in 1634 and then dramatically collapsed in February 1637.
It is generally considered to have been the first recorded speculative bubble in history.
Although it had dramatic impact on some families who lost all their fortune, it had no critical influence on the prosperity of the Dutch Republic, which was one of the world’s leading economic and financial powers in the 17th century, with the highest per capita income in the world from about 1600 to about 1720.
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