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I guess the paper is trying to help with the misconception that a lot of what occurred in Tulipmania is relatable to modern-day financial bubble crashes where a
by forkLding 9y ago
I guess the paper is trying to help with the misconception that a lot of what occurred in Tulipmania is relatable to modern-day financial bubble crashes where a lot of the general public suddenly lose jobs and money or how a lot of perception was influenced by Calvinists condemning materialistic pursuits, whereas in the actual event of the Tulip fever, it likely only affected the rich and not your ordinary 1600s general public.
- djsumdog 9y agoSo if anything, what we faced in the 2008 crisis and what many are experience now is on orders of magnitude worse than Tulipmania...
- wallace_f 9y agoAbsolutely. Also an example of how the financial system has evolved to tie the fates of some of the large, institutional (too big to fail) speculative investors to that of the common working man in the most unjust way possible. It is impressive how remarkarble they've evolved the finacial sector (for themselves).