Please check real economists’ history of the ‘ tulip mania ‘, not Kindleberger relying on McKay; there was derivatives trading on tulips, so leverage got taken out and volatility was exaggerated for effort, prices were much closer to perceptions of aesthetic value than thought
Joseph Carlson
@joecarlsonshow
12-17
Reading about Tulip mania is wild.
It seems crazy that people were willing to pay tens of thousands of dollars for something that has no particle use or intrinsic value.
Who would pay so much for something where the only bull case for it is trying to convince the next guy to
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