LAHi Presents: Seriously Trivial Tulips were imported from the Ottoman Empire in 1559, and quickly b
LAHi Presents: Seriously Trivial Tulips were imported from the Ottoman Empire in 1559, and quickly became popular because of their beauty. In the beginning, prices rose because of wealthy collectors who were truly interested in the varying breeds of tulip. But soon, the growing demand attracted people who bought them up to resell them at higher prices, assuming that the price would grow higher. In 1636, however, the bubble burst, and prices ended up dropping by 90 % as the bottom of the market fell out. Sources: Aline Sullivan and International Herald Tribune. “8 Fat Swine for a Tulip:A Brief History of Bursts.” The New York Times. October 10, 1998. Accessed September 10, 2017. http://www.nytimes.com/1998/10/10/your-money/8-fat-swine-for-a-tulipa-brief-history-of-bursts.html. Mackay, Charles. Memoirs of Extraordinary Popular Delusions and the Madness of Crowds. London: Office of the National Illustrated Library. 1852. Library of Economics and Liberty [Online] available from http://www.econlib.org/library/Mackay/macEx3.html; accessed 10 September 2017; Internet. Sass, Erik, et al. The mental floss History of the World: An Irreverent Romp through Civilization’s Best Bits. New York, Harper, 2009 Poster by: Nic Calilung -- source link
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