True and relevant, even if they'd like to say it's not. The tulip thing is just what happens, in myriad forms, when the Gini coefficient gets too out of hand.

True and relevant, even if they'd like to say it's not. The tulip thing is just what happens, in myriad forms, when the Gini coefficient gets too out of hand. It's not that lots of people were ruined through gambling desperately on bizarre, random things. It's that there were a bunch of people so insensibly wealthy that they didn't need to be even slightly rational. Also see 'Veblen good'. When conditions allow this, rationality just stops mattering.