The Tulip Mania was een economic bubble in in the trade of tulip bulbs in and around the town of Harlem in Holland in the seventeenth century.
Tulip bulbs and purchase options on tulip bulbs became as expensive as a series of houses along the main street. The Tulip Mania reached its peak when the exchange course of the tulip bulb crashed on the 3rd of February 1637.
People tend to claim this was unexpected - not true. A citizen of the town of Hoorn wrote a clear warning “Claere ontdeckingh der dwaesheydt” ("clear discovery of folly") . Today we have the paintings of Jan Bruegel the younger and of Hendrik Gerritszoon Pot as testimonies. you can admire both paintings in the Frans Hals museum in Harlem.
Such collective folly is, sadly, very recognisable. The question is, however, why man behaves like a herd beast. One rich neighbour is usually convincing enough to try it. Even worse, it is the one who doesn't participate in the folly who is declared mad. It is worth considering what else is today's collective madness? You are kindly invited to name a few as a comment to this blog.
Anyhow, the behaviour of masses is unreliable. Never follow a mass without criticism. This must have been the birth of Socrates' wisdom.
I refer to my blog: "Senatores boni viri" and to my Dutch blogs: ”De Waanzin van het Intellect” and “Lof der Zotheid”.
Picture: Tulip Mania - Jan Bruegel the younger
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