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| Monikko | tulipomanias |
(uncountable, countable) Such enthusiasm (or the period of its duration) during the Dutch Golden Age when contract prices for bulbs of the recently introduced tulip reached extraordinarily high levels and then suddenly collapsed (1634–1637); it is widely considered the first speculative bubble (asset bubble).
A tulip, known as "the Viceroy" (viseroij), displayed in the 1637 Dutch catalogue Verzameling van een Meenigte Tulipaanen ("Collection of a Crowd of Tulips"). Its bulb was offered for sale for between 3,000 and 4,200 guilders (florins) depending on weight (gewooge). A skilled artisan at the time earned about 300 guilders a year.
(uncountable, countable) Such enthusiasm (or the period of its duration) during the Dutch Golden Age when contract prices for bulbs of the recently introduced tulip reached extraordinarily high levels and then suddenly collapsed (1634–1637); it is widely considered the first speculative bubble (asset bubble).
A Satire of Tulip Mania by Jan Brueghel the Younger (c. 1640) depicts speculators as brainless monkeys in contemporary upper-class dress. In a commentary on the economic folly, one monkey urinates on the previously valuable plants, others appear in debtor's court and one is carried to the grave.
(uncountable, countable) Such enthusiasm (or the period of its duration) during the Dutch Golden Age when contract prices for bulbs of the recently introduced tulip reached extraordinarily high levels and then suddenly collapsed (1634–1637); it is widely considered the first speculative bubble (asset bubble).
Wagon of Fools by Hendrik Gerritsz Pot, 1637. Haarlem weavers chase a wind-borne wagon flying a fool's cap flag. Flora, goddess of flowers, rides aboard to destruction in the sea with the vices Fraud, Gluttony and Avarice, Mrs. Mania, and Idle Hope/Fortuna.