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Boom and Bust: Ranking the Biggest Bubbles in History

Many Happy Returns

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Lessons from Historical Asset Bubbles

This chapter explores the notorious Dutch tulip bubble of the 1630s and the South Sea bubble of 1720, examining their mechanisms and impacts on society. It discusses the speculative nature of these markets, the risks involved, and the resulting economic turmoil when the bubbles burst. Additionally, the chapter reflects on the legal repercussions and contrasts the consequences faced by elite investors versus the general public.

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