An economic bubble is a period when current asset prices greatly exceed their intrinsic valuation, being the valuation that the underlying long-term fundamentals justify. Bubbles can be caused by over
Jan Brueghel the Younger's A Satire of Tulip Mania (c. 1640)
The South Sea Bubble by Edward Matthew Ward, 1847
Tulip mania was a period during the Dutch Golden Age when contract prices for some bulbs of the recently introduced and fashionable tulip reached extraordinarily high levels. The major acceleration st
Economic bubble
…and sustainability of growth (e.g. dot-com bubble), and/or by the belief that intrinsic valuation is no longer relevant when making an investment (e.g. Tulip mania). They have appeared in most asset classes, including stocks (e.g. Roaring Twenties), commodities (e.g. 2007 uranium bubble), real estate (e.g. 2000s…
Semper Augustus (17th century) anonymous watercolour in the Tulip book of the Six Collection, Rijksmuseum, Amsterdam. The Semper Augustus is famous for being the most expensive tulip sold during the tulip mania. The note states that the specimen was sold for ƒ3000 (~€38.000 in 2024).
Admirael van der Eijck from the 1637 catalogue by Pieter Cos, sold for ƒ1045 on February 5, 1637
Wagon of Fools by Hendrik Gerritsz Pot, 1637. Haarlem weavers chase a wind-borne wagon flying a fool's cap flag. Flora, goddess of flowers, rides aboard to destruction in the sea with the vices Fraud, Gluttony and Avarice, Mrs. Mania, and Idle Hope/Fortuna.