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From the article: "Hypothesis: every boom, ever, leaves behind an infrastructure for steady, above-average growth in some other industry" Have you considered t
by comatose_kid 19y ago
From the article:
"Hypothesis: every boom, ever, leaves behind an infrastructure for steady, above-average growth in some other industry"
Have you considered the tulip boom that happened in the Netherlands in the 1600s? I'd be curios to find out what industry that helped after it collapsed?
In any case, I doubt that this thesis holds for housing.
- byrneseyeview 19y agoMy guess is that it helped financial derivatives take off. I've read about people trading puts and calls on tulips -- and then when that got boring, trading the same instruments on commodities and stocks at more legitimate exchanges. But my timing could be off.