3min chapter

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Markets And The Madness Of Crowds - Robert Shiller

The Joe Walker Podcast

CHAPTER

What Is a Bubble?

People generally take the Dutch tulip mania, which crashed in February 1637 as the world's first bubble. Have you found any examples that are older than that? Yes, there was, well, by the way, the best answer to that question is not much. I once asked someone who spoke Dutch to try to research and find some discussion in the newspapers of that day of bubble. He wasn't successful. There were pamphlets, I know, describing the bubble. So I think that the contagion was facilitated with the advent of newspapers in the early 1600s and printed newspapers.

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