The Tulip and the First Speculation Bubble

by Read Listen Learn · Flora · Intermediate

A few hundred years ago, a diplomat in Istanbul fell in love with the tulip, a flower not found in western Europe at that time. He sent bulbs back home so that his friends could grow them in their gardens. Within a century or two, tulips had become a craze in Holland. People bought and sold the bulbs while they were still in the ground. One could cost as much as a house and then, suddenly, it all stopped and people lost everything (900 words)

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