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LIVE: The Myth of the Million Dollar Tulip Bulb
Cautionary Tales with Tim Harford
The Tulip Bubble
The Dutch became very excited about tulips in the 1630s. But historian Anne Goldgar says Mackay's account is plagiarized from an earlier source, which relied on moralising pamphlets designed to discredit financial speculators. One fabulously wealthy Dutch politician built a garden filled with artfully positioned mirrors surrounding a few rare tulips. The choicest blooms were so costly, even he couldn't afford to fill his garden. Of course it didn't last. Today's influencers brandish Birkin handbags or board ape yacht club NFTs. It's a crypto thing. Paris Hilton's involved.
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