World History Minute: Tulip mania (Feb. 5, 1637)

World History Minute: Tulip mania (Feb. 5, 1637)
World History Minute: Tulip mania (Feb. 5, 1637)

World History Minute: Tulip mania (Feb. 5, 1637)

In the 1630s, demand for tulip bulbs began to outpace supply in Holland. As prices soared, black market futures traders started getting involved. On February 5, 1637, prices peaked and soon after crashed, causing a devastating ripple effect in the Dutch economy. Historian John Schmidt will join us to discuss how tulip mania has become a go-to cautionary tale for economists. (Photo: Flickr/jimderda)