That summary understates it. > That’s not to say that everything about the story is wrong; merchants really did engage in a frantic tulip trade, and they paid

That summary understates it. > That’s not to say that everything about the story is wrong; merchants really did engage in a frantic tulip trade, and they paid incredibly high prices for some bulbs. And when a number of buyers announced they couldn’t pay the high price previously agreed upon, the market did fall apart and cause a small crisis—but only because it undermined social expectations. The tulip craze was real, it just didn't cause society to crumble.