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50 Things That Made the Modern Economy

Factual: Money

The stories of inventions, ideas and innovations which helped create the economic world

Tim Harford tells the fascinating stories of inventions, ideas and innovations which have helped create the economic world.

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50 Things That Made the Modern Economy: Tulips

Discussion & Talk

Tulips

01/02/2020 GMT

BBC World Service - 50 Things That Made the Modern Economy, Tulips

Did colourful flowers really cause a financial bubble?

Tim Harford tries to sort fact from fiction in the story of the Netherlands' 'tulip mania'. Was this the first great financial bubble?

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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