The History and Consequences of the Tulipmania

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Publisher :
ISBN 13 : 9783346015938
Total Pages : 20 pages
Book Rating : 4.0/5 (159 download)

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Book Synopsis The History and Consequences of the Tulipmania by : Myro Kerler

Download or read book The History and Consequences of the Tulipmania written by Myro Kerler and published by . This book was released on 2019-08-11 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2017 in the subject Economics - History, grade: 1,7, University of Agder, course: History of Financial Crises, language: English, abstract: This paper starts in chapter two with a description of how the Tulipmania took place and what circumstances influenced the development of the Tulipmania. Chapter three focuses on the consequences of the crash for the speculators as well as the Dutch economy and society. Thereby actions of the government, courts and private arrangements will be considered. Besides that, the question about the seriousness of the consequences will be discussed. The fourth chapter examines the scientific disputes about the perception of the Tulipmania that exist till today. There are contradicting views about the importance of the Tulipmania as well as the kind of crisis the Tulipmania was. Especially the term bubble is criticised, and some authors even doubt the existence of a Tulipmania entirely. As to find an explanation to these controversies the second to last chapter scrutinizes the situation of some of the most influential sources. The last chapter shortly sums up the paper and contains a few concluding remarks about the discussions mentioned before. The Tulipmania is usually one of the first so called bubbles referred to in economic history which took place in the 1630s in the Netherlands. Object of speculation in these days were (rare) tulip bulbs. The positive development of prices over years boosted the speculations and hence the prices. In February of 1637 the crash followed when the prices dropped immediately. One main problem in researching the Tulipmania, is the availability and reliability of historical sources. The empirical data about prices and the economy as a whole are incomplete and often matter of interpretation.

Tulipmania

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Publisher : University of Chicago Press
ISBN 13 : 0226301303
Total Pages : 458 pages
Book Rating : 4.2/5 (263 download)

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Book Synopsis Tulipmania by : Anne Goldgar

Download or read book Tulipmania written by Anne Goldgar and published by University of Chicago Press. This book was released on 2008-09-15 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the 1630s the Netherlands was gripped by tulipmania: a speculative fever unprecedented in scale and, as popular history would have it, folly. We all know the outline of the story—how otherwise sensible merchants, nobles, and artisans spent all they had (and much that they didn’t) on tulip bulbs. We have heard how these bulbs changed hands hundreds of times in a single day, and how some bulbs, sold and resold for thousands of guilders, never even existed. Tulipmania is seen as an example of the gullibility of crowds and the dangers of financial speculation. But it wasn’t like that. As Anne Goldgar reveals in Tulipmania, not one of these stories is true. Making use of extensive archival research, she lays waste to the legends, revealing that while the 1630s did see a speculative bubble in tulip prices, neither the height of the bubble nor its bursting were anywhere near as dramatic as we tend to think. By clearing away the accumulated myths, Goldgar is able to show us instead the far more interesting reality: the ways in which tulipmania reflected deep anxieties about the transformation of Dutch society in the Golden Age. “Goldgar tells us at the start of her excellent debunking book: ‘Most of what we have heard of [tulipmania] is not true.’. . . She tells a new story.”—Simon Kuper, Financial Times

Famous First Bubbles

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Publisher : MIT Press
ISBN 13 : 9780262571531
Total Pages : 180 pages
Book Rating : 4.5/5 (715 download)

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Book Synopsis Famous First Bubbles by : Peter M. Garber

Download or read book Famous First Bubbles written by Peter M. Garber and published by MIT Press. This book was released on 2001-08-24 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: The jargon of economics and finance contains numerous colorful terms for market-asset prices at odds with any reasonable economic explanation. Examples include "bubble," "tulipmania," "chain letter," "Ponzi scheme," "panic," "crash," "herding," and "irrational exuberance." Although such a term suggests that an event is inexplicably crowd-driven, what it really means, claims Peter Garber, is that we have grasped a near-empty explanation rather than expend the effort to understand the event. In this book Garber offers market-fundamental explanations for the three most famous bubbles: the Dutch Tulipmania (1634-1637), the Mississippi Bubble (1719-1720), and the closely connected South Sea Bubble (1720). He focuses most closely on the Tulipmania because it is the event that most modern observers view as clearly crazy. Comparing the pattern of price declines for initially rare eighteenth-century bulbs to that of seventeenth-century bulbs, he concludes that the extremely high prices for rare bulbs and their rapid decline reflects normal pricing behavior. In the cases of the Mississippi and South Sea Bubbles, he describes the asset markets and financial manipulations involved in these episodes and casts them as market fundamentals.

Early Speculative Bubbles and Increases in the Supply of Money

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Publisher : Ludwig von Mises Institute
ISBN 13 : 1610164555
Total Pages : 147 pages
Book Rating : 4.6/5 (11 download)

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Book Synopsis Early Speculative Bubbles and Increases in the Supply of Money by :

Download or read book Early Speculative Bubbles and Increases in the Supply of Money written by and published by Ludwig von Mises Institute. This book was released on 2009-03-16 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Housing Bubble was hardly the first in human history. What's eluded historians is the same issue that eludes commentators today: the underlying cause of bubbles. This book is the first (and only) book to solve the mystery of the most famous bubble in world history: Tulipmania in 17th century Netherlands. It Is a legendary event but explanations have been lacking. People blame irrational exuberance, free markets, and an unleashed aristocracy. Douglas French takes a different route: he follows the money to prove that the bubble resulted from a government intervention that dramatically exploded the money supply and fueled the tulip-price bubble – not altogether different from modern bubbles. This book was French’s Master’s thesis written under the direction of Murray Rothbard and examining three of the most famous speculative bubble episodes in history through the lens of Austrian Business Cycle Theory. Although each of these episodes is well documented, this book examines the monetary interventions that engendered each of these events showing that not only the Mississippi Bubble and the South Sea Bubble were caused by government meddling, but Tulipmania was as well. Tulipmania was unique in that it was the sound money policy of the Dutch combined with free coinage laws that led to an acute increase in the supply of money and fostered an atmosphere that was ripe for speculation and malinvestment, manifesting itself in the intense trading of tulip bulbs. The author examines not only the Mississippi Bubble but also the life and monetary theories of its architect, John Law. Professor Joe Salerno calls Law the world’s first macroeconomist who implemented a Keynesian monetary system in France nearly two hundred years before Keynes was born. At the same time across the English Channel, a nearly bankrupt British government looked on with envy at Law’s system, believing that he was working a financial miracle. It was anything but this and investors in both countries were devastated. Although these episodes occurred centuries ago, readers will find the events eerily similar to today’s bubbles and busts: low interest rates, easy credit terms, widespread public participation, bankrupt governments, price inflation, frantic attempts by government to keep the booms going, and government bailouts of companies after the crash. When will we learn? We first have to get cause and effect in history straight. This book is an excellent contribution to that effort.

Tulipomania

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Publisher : Hachette UK
ISBN 13 : 178022057X
Total Pages : 279 pages
Book Rating : 4.7/5 (82 download)

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Book Synopsis Tulipomania by : Mike Dash

Download or read book Tulipomania written by Mike Dash and published by Hachette UK. This book was released on 2011-05-12 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'A fascinating exploration of human greed and self-delusion and also a tribute to our ageless search for beauty' DEBORAH MOGGACH. In 1630s' Holland thousands of people, from the wealthiest merchants to the lowest street traders, were caught up in a frenzy of buying and selling. The object of the speculation was not oil or gold, but the tulip, a delicate and exotic bloom that had just arrived from the east. Over three years, rare tulip bulbs changed hands for sums that would have bought a house in Amsterdam: a single bulb could sell for more than £300,000 at today's prices. Fortunes were made overnight, but then lost when, within a year, the market collapsed. Mike Dash recreates this bizarre episode in European history, separating myth from reality. He traces the hysterical boom and devastating bust, bringing to life a colourful cast of characters, and beautifully evoking Holland's Golden Age.

Boom and Bust

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Publisher : Cambridge University Press
ISBN 13 : 1108369359
Total Pages : 297 pages
Book Rating : 4.1/5 (83 download)

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Book Synopsis Boom and Bust by : William Quinn

Download or read book Boom and Bust written by William Quinn and published by Cambridge University Press. This book was released on 2020-08-06 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do stock and housing markets sometimes experience amazing booms followed by massive busts and why is this happening more and more frequently? In order to answer these questions, William Quinn and John D. Turner take us on a riveting ride through the history of financial bubbles, visiting, among other places, Paris and London in 1720, Latin America in the 1820s, Melbourne in the 1880s, New York in the 1920s, Tokyo in the 1980s, Silicon Valley in the 1990s and Shanghai in the 2000s. As they do so, they help us understand why bubbles happen, and why some have catastrophic economic, social and political consequences whilst others have actually benefited society. They reveal that bubbles start when investors and speculators react to new technology or political initiatives, showing that our ability to predict future bubbles will ultimately come down to being able to predict these sparks.

The Black Tulip

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Publisher :
ISBN 13 :
Total Pages : 272 pages
Book Rating : 4.:/5 (311 download)

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Book Synopsis The Black Tulip by : Alexandre Dumas

Download or read book The Black Tulip written by Alexandre Dumas and published by . This book was released on 1919 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt:

A Key to Dutch History

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Publisher : Amsterdam University Press
ISBN 13 : 9789053564981
Total Pages : 230 pages
Book Rating : 4.5/5 (649 download)

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Book Synopsis A Key to Dutch History by : Commissie Ontwikkeling Nederlandse Canon

Download or read book A Key to Dutch History written by Commissie Ontwikkeling Nederlandse Canon and published by Amsterdam University Press. This book was released on 2007 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many think they know the legends behind tulipmania and the legacy of the Dutch East India Tea Company, but what basic knowledge of Dutch history and culture should be passed on to future generations? A Key to Dutch History and its resulting overview of historical highlights, assembled by a number of specialists in consultation with the Dutch general public, provides a thought-provoking and timely answer. The democratic process behind the volume is reminiscent of the way in which the Netherlands has succeeded for centuries at collective craftsmanship, and says as much about the Netherlands as does the outcome of the opinions voiced.

History of Greed

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Publisher : John Wiley & Sons
ISBN 13 : 0470877707
Total Pages : 418 pages
Book Rating : 4.4/5 (78 download)

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Book Synopsis History of Greed by : David E. Y. Sarna

Download or read book History of Greed written by David E. Y. Sarna and published by John Wiley & Sons. This book was released on 2010-07-30 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: The “greater fool” theory of economics states that it’s possible to make money by buying paper (securities), whether overvalued or not, and later, selling it at a profit because there will always be an even greater fool willing to pay the higher price. Many described in this book profited by peddling such worthless junk to foolish investors. But for some people—Bernie Madoff, Norman Hsu, Sholam Weiss, and “Crazie Eddie” Antar, aka the “Darth Vader of Capitalism”—overvalued securities were not enough. Outright fraud was their way of life. History of Greed is the compelling inside story of the names you know—Charles Ponzi, Baron Rothschild, Lou Pearlman—and the names you don’t—Isaac Le Maire, the world’s first “naked” short-seller. It’s also our story—why we ignore the lessons of the past and fall prey, most every time, to the promise of easy money. For thousands of years, alchemists unsuccessfully tried to turn worthless base metals into gold. Where science failed at turning nothing into something, business succeeded. Sometimes we praise the creators of derivatives, collateral debt obligations, subprime mortgages, credit default swaps, or auction rate securities as Wall Street’s new financial wizards, the creators of “magic paper.” Other times, we vilify and prosecute them as scam artists. Sometimes, it’s hard to tell who is who. History of Greed reveals the inside secrets of how the markets really work, and how scam artists abuse them to gain an unfair edge or to outright steal. It describes how luftgescheft (“air business”), wizardry, dishonesty, and fraud are used to swindle people. Along with a comprehensive bibliography, History of Greed also details: 400 years of financial fraud—from everyday fraud to the odd and unusual Accounting fraud (phantom sales), stock option fraud (backdating), auction rate securities, hedge fund fraud, Ponzi schemes, promotion fraud (pump-and-dump scams), and money laundering How to detect fraudulent schemes How government regulation only fixes yesterday’s problems If it’s too good to be true, it probably is. If they say you can’t lose, you probably will. History of Greed shows that there really is no such thing as a free lunch, while also detailing how not to become the “greater fool.”

Hana in the Time of the Tulips

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Publisher : Candlewick Press
ISBN 13 : 9780763618759
Total Pages : 40 pages
Book Rating : 4.6/5 (187 download)

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Book Synopsis Hana in the Time of the Tulips by : Deborah Noyes

Download or read book Hana in the Time of the Tulips written by Deborah Noyes and published by Candlewick Press. This book was released on 2004 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: A little girl seeks to regain her father's attention during the tulipomania craze in seventeenth-century Holland.

Tulip Fever

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Publisher : Dial Press
ISBN 13 : 0307423417
Total Pages : 290 pages
Book Rating : 4.3/5 (74 download)

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Book Synopsis Tulip Fever by : Deborah Moggach

Download or read book Tulip Fever written by Deborah Moggach and published by Dial Press. This book was released on 2007-12-18 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: A sensual tale of art, lust, and deception—now a major motion picture In 1630s Amsterdam, tulipomania has seized the populace. Everywhere men are seduced by the fantastic exotic flower. But for wealthy merchant Cornelis Sandvoort, it is his young and beautiful wife, Sophia, who stirs his soul. She is the prize he desires, the woman he hopes will bring him the joy that not even his considerable fortune can buy. Cornelis yearns for an heir, but so far he and Sophia have failed to produce one. In a bid for immortality, he commissions a portrait of them both by the talented young painter Jan van Loos. But as Van Loos begins to capture Sophia's likeness on canvas, a slow passion begins to burn between the beautiful young wife and the talented artist. As the portrait unfolds, so a slow dance is begun among the household’s inhabitants. Ambitions, desires, and dreams breed a grand deception—and as the lies multiply, events move toward a thrilling and tragic climax. In this richly imagined international bestseller, Deborah Moggach has created the rarest of novels—a lush, lyrical work of fiction that is also compulsively readable. Seldom has a novel so vividly evoked a time, a place, and a passion. Praise for Tulip Fever “Sumptuous prose . . . reads like a thriller.”—The New York Times Book Review “An artful novel in every sense of the word . . . deftly evokes seventeenth-century Amsterdam’s vibrant atmosphere.”—Los Angeles Times “Need a brief escape into a beautiful and faraway world? Deborah Moggach’s wonderful Tulip Fever can offer you that.”—New York Post “Taut with suspense and unexpected revelations.”—Entertainment Weekly “Elegantly absorbing.”—The Philadelphia Inquirer

The Netherlands in a Nutshell

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Publisher : Amsterdam University Press
ISBN 13 : 9089640398
Total Pages : 121 pages
Book Rating : 4.0/5 (896 download)

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Book Synopsis The Netherlands in a Nutshell by : Frits van Oostrom

Download or read book The Netherlands in a Nutshell written by Frits van Oostrom and published by Amsterdam University Press. This book was released on 2009 with total page 121 pages. Available in PDF, EPUB and Kindle. Book excerpt: Vijftig tijdperken, gebeurtenissen en personen die bepalend zijn geweest voor het beeld van de geschiedenis van Nederland vanaf de vroegste tijden tot heden.

Booms and Busts: An Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the Current Global Economic Crisis

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Publisher : Routledge
ISBN 13 : 1317475755
Total Pages : 1736 pages
Book Rating : 4.3/5 (174 download)

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Book Synopsis Booms and Busts: An Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the Current Global Economic Crisis by : Mehmet Odekon

Download or read book Booms and Busts: An Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the Current Global Economic Crisis written by Mehmet Odekon and published by Routledge. This book was released on 2015-03-17 with total page 1736 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely and authoritative set explores three centuries of good times and hard times in major economies throughout the world. More than 400 signed articles cover events from Tulipmania during the 1630s to the U.S. federal stimulus package of 2009, and introduce readers to underlying concepts, recurring themes, major institutions, and notable figures. Written in a clear, accessible style, "Booms and Busts" provides vital insight and perspective for students, teachers, librarians, and the general public - anyone interested in understanding the historical precedents, causes, and effects of the global economic crisis. Special features include a chronology of major booms and busts through history, a glossary of economic terms, a guide to further research, an appendix of primary documents, a topic finder, and a comprehensive index. It features 1,050 pages; three volumes; 8-1/2" X 11"; topic finder; photos; chronology; glossary; primary documents; bibliography; and, index.

The Delusions of Crowds

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Publisher : Grove Press
ISBN 13 : 0802157114
Total Pages : 491 pages
Book Rating : 4.8/5 (21 download)

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Book Synopsis The Delusions of Crowds by : William J. Bernstein

Download or read book The Delusions of Crowds written by William J. Bernstein and published by Grove Press. This book was released on 2021-02-23 with total page 491 pages. Available in PDF, EPUB and Kindle. Book excerpt: This “disturbing yet fascinating” exploration of mass mania through the ages explains the biological and psychological roots of irrationality (Kirkus Reviews). From time immemorial, contagious narratives have spread through susceptible groups—with enormous, often disastrous, consequences. Inspired by Charles Mackay’s nineteenth-century classic Memoirs of Extraordinary Popular Delusions and the Madness of Crowds, neurologist and author William Bernstein examines mass delusion through the lens of current scientific research in The Delusions of Crowds. Bernstein tells the stories of dramatic religious and financial mania in western society over the last five hundred years—from the Anabaptist Madness of the 1530s to the dangerous End-Times beliefs that pervade today’s polarized America; and from the South Sea Bubble to the Enron scandal and dot com bubbles. Through Bernstein’s supple prose, the participants are as colorful as their “desire to improve one’s well-being in this life or the next.” Bernstein’s chronicles reveal the huge cost and alarming implications of mass mania. He observes that if we can absorb the history and biology of this all-too-human phenomenon, we can recognize it more readily in our own time, and avoid its frequently dire impact.

The Cult of the Amateur

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Publisher : Currency
ISBN 13 : 0385520816
Total Pages : 258 pages
Book Rating : 4.3/5 (855 download)

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Book Synopsis The Cult of the Amateur by : Andrew Keen

Download or read book The Cult of the Amateur written by Andrew Keen and published by Currency. This book was released on 2008-08-12 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: Amateur hour has arrived, and the audience is running the show In a hard-hitting and provocative polemic, Silicon Valley insider and pundit Andrew Keen exposes the grave consequences of today’s new participatory Web 2.0 and reveals how it threatens our values, economy, and ultimately the very innovation and creativity that forms the fabric of American achievement. Our most valued cultural institutions, Keen warns—our professional newspapers, magazines, music, and movies—are being overtaken by an avalanche of amateur, user-generated free content. Advertising revenue is being siphoned off by free classified ads on sites like Craigslist; television networks are under attack from free user-generated programming on YouTube and the like; file-sharing and digital piracy have devastated the multibillion-dollar music business and threaten to undermine our movie industry. Worse, Keen claims, our “cut-and-paste” online culture—in which intellectual property is freely swapped, downloaded, remashed, and aggregated—threatens over 200 years of copyright protection and intellectual property rights, robbing artists, authors, journalists, musicians, editors, and producers of the fruits of their creative labors. In today’s self-broadcasting culture, where amateurism is celebrated and anyone with an opinion, however ill-informed, can publish a blog, post a video on YouTube, or change an entry on Wikipedia, the distinction between trained expert and uninformed amateur becomes dangerously blurred. When anonymous bloggers and videographers, unconstrained by professional standards or editorial filters, can alter the public debate and manipulate public opinion, truth becomes a commodity to be bought, sold, packaged, and reinvented. The very anonymity that the Web 2.0 offers calls into question the reliability of the information we receive and creates an environment in which sexual predators and identity thieves can roam free. While no Luddite—Keen pioneered several Internet startups himself—he urges us to consider the consequences of blindly supporting a culture that endorses plagiarism and piracy and that fundamentally weakens traditional media and creative institutions. Offering concrete solutions on how we can reign in the free-wheeling, narcissistic atmosphere that pervades the Web, THE CULT OF THE AMATEUR is a wake-up call to each and every one of us.

A History of Global Consumption

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Publisher : Routledge
ISBN 13 : 1317652657
Total Pages : 313 pages
Book Rating : 4.3/5 (176 download)

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Book Synopsis A History of Global Consumption by : Ina Baghdiantz McCabe

Download or read book A History of Global Consumption written by Ina Baghdiantz McCabe and published by Routledge. This book was released on 2014-08-27 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: In A History of Global Consumption: 1500 – 1800, Ina Baghdiantz McCabe examines the history of consumption throughout the early modern period using a combination of chronological and thematic discussion, taking a comprehensive and wide-reaching view of a subject that has long been on the historical agenda. The title explores the topic from the rise of the collector in Renaissance Europe to the birth of consumption as a political tool in the eighteenth century. Beginning with an overview of the history of consumption and the major theorists, such as Bourdieu, Elias and Barthes, who have shaped its development as a field, Baghdiantz McCabe approaches the subject through a clear chronological framework. Supplemented by illlustrations in every chapter and ranging in scope from an analysis of the success of American commodities such as tobacco, sugar and chocolate in Europe and Asia to a discussion of the Dutch tulip mania, A History of Global Consumption: 1500 – 1800 is the perfect guide for all students interested in the social, cultural and economic history of the early modern period.

The Brand Bubble

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Publisher : John Wiley & Sons
ISBN 13 : 047044939X
Total Pages : 284 pages
Book Rating : 4.4/5 (74 download)

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Book Synopsis The Brand Bubble by : John Gerzema

Download or read book The Brand Bubble written by John Gerzema and published by John Wiley & Sons. This book was released on 2008-11-03 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to use brands to gain and sustain competitive advantage Companies today face a dilemma in marketing. The tried-and-true formulas to create sales and market share behind brands are becoming irrelevant and losing traction with consumers. In this book, Gerzema and LeBar offer credible evidence--drawn from a detailed analysis of a decade's worth of brand and financial data using Y&R's Brand Asset Valuator (BAV), the largest database of brands in the world--that business is riding on yet another bubble that is ready to burst--a brand bubble. While most managers still see metrics like trust and awareness as the backbone of how brands are built, Gerzema asserts they're dead wrong--these metrics do not add to increased asset value. In fact, by following them, they actually hasten the declining value of their brands. Using a five-stage model, The Brand Bubble reveals how today's successful brands--and tomorrow's--have an insatiable appetite for creativity and change. These brands offer consumers a palpable sense of movement and direction thanks to a powerful "energized differentiation." Gerzema reveals how brands with energized differentiation achieve better financial performance than traditional brands have. Plus, Gerzema helps readers develop energized differentiation in their own brands, creating consumer-centric and sustainable organizations.