Tulip BubbleOccurring in 17thC Holland, the world's first recorded economic bubble.At its utmost peak, a single bulb went for 2.500 Guilders (A skilled craftsman's annual income was 150 Guilders),
and it appears that there was even a person who put up 5 hectares of land in exchange.(There is a school of thought that it wasn't actually a large-scale bubble at all, and that the economic losses were somewhat limited in reality.)When the prices crashed, people became destitute in droves, and the Dutch economy was hit hard.Gonna make bank on these for sure!
Occurring in 17thC Holland, the world's first recorded economic bubble.
At its utmost peak, a single bulb went for 2.500 Guilders (A skilled craftsman's annual income was 150 Guilders),
and it appears that there was even a person who put up 5 hectares of land in exchange.
(There is a school of thought that it wasn't actually a large-scale bubble at all, and that the economic losses were somewhat limited in reality.)
When the prices crashed, people became destitute in droves, and the Dutch economy was hit hard.
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