EPISODE · Jan 27, 2020 · 10 MIN
Tulips
from 50 Things That Made the Modern Economy · host BBC World Service
In the 1630s, the Netherlands experienced 'tulip mania' - a surge in demand for tulips from wealthy buyers, with some individual bulbs costing twenty times more than a carpenter's annual salary. Then, in February 1637, the price suddenly crashed. It's often cited as the first great financial bubble, but is that really the case? Tim Harford tries to sort fact from fiction.
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