Although I wouldn't put as much stock in Garber's thesis (although I did enjoy the monograph) as you do, there definitely is value to his argument. I think it

Although I wouldn't put as much stock in Garber's thesis (although I did enjoy the monograph) as you do, there definitely is value to his argument. I think it is also important to stress that the problem with the tulip bulb markets at the time was that there were people who were aggressively using leverage and they did not understand the ramifications of it's use.