AI Snips
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Tulip Mania Story Began As Satire
- The popular tulip-mania story originates from satirical pamphlets produced after the crash, not neutral economic records.
- Later writers like Charles Mackay propagated that satire as factual history without archival verification.
Aesthetics Drove Demand, Not Intrinsic Value
- Tulips appealed because of unpredictable, variegated colours and novelty rather than intrinsic economic value.
- Rarity and aesthetic taste, plus emerging expertise, drove high prices among collectors.
Seasonality Made The Market Futures-Like
- The tulip trade's seasonality made many transactions deferred until bulbs were dug up, creating futures-like agreements.
- This timing, not pure speculation, shaped lawsuits and the collapse dynamics in 1637.