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That's such a weird comment, because they literally were. I think I understand what you mean, but I also think that you underestimate the impact that the intro
by mikekchar 9y ago
That's such a weird comment, because they literally were.
I think I understand what you mean, but I also think that you underestimate the impact that the introduction of the tulip to Europe had on the economy. If you browse through the Wikipedia page, I think you will find it interesting: https://en.wikipedia.org/wiki/Tulip_mania https://en.wikipedia.org/wiki/Tulip_mania
Also interesting is the effect that it still has on the economy. Some of the big flower monopolies that still exist today (nearly 400 years later!) were created by people who speculated on tulip bulbs and diversified quickly enough (mostly by using profits to buy up land).
We tend to think about things from our own perspectives, but when you are looking at that time period, imports of agricultural products to the wealthy is what ruled the world. Just like they were able to saturate their market, so will we with abstract financial products. Those who are able to diversify quickly enough will probably be the next big winners. Those who keep buying graphic cards will probably be the next big losers.