![]() ![]() ![]() ![]() What really happened and how did the story of Dutch tulip speculation get so distorted? Anne Goldgar discovered the historical reality when she dug into the archives to research her book, Tulipmania: Money, Honor, and Knowledge in the Dutch Golden Age. The only problem: none of these stories are true. The incident even provides the backdrop for the new film Tulip Fever, based on a novel of the same name by Deborah Moggach. Writers and historians have reveled in the absurdity of the event. And then, as any financial bubble will do, the tulip market imploded, sending traders of all incomes into ruin.įor decades, economists have pointed to 17th-century tulipmania as a warning about the perils of the free market. As the tulip market grew, speculation exploded, with traders offering exorbitant prices for bulbs that had yet to flower. ![]() A bulb named Semper Augustus, notable for its flame-like white and red petals, sold for more than the cost of a mansion in a fashionable Amsterdam neighborhood, complete with coach and garden. A sailor who mistook a rare tulip bulb for an onion and ate it with his herring sandwich was charged with a felony and thrown in prison. When tulips came to the Netherlands, all the world went mad. ![]()
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