The Tulipmania – the greatest economic bubble. in 1637 Dutch people found themselves in a situation to believe that a single bulb costs as much as a house.
On the picture (via Wikipedia): an allegory of tulip mania by Hendrik Gerritsz Pot, circa 1640. Flora, the goddess of flowers, is blown by the wind and rides with a tippler, money changers, and the two-faced goddess Fortuna. They are followed by dissolute Haarlem weavers, on their way to destruction in the sea.
Thoughts provoked when looking at the facebook evaluation of 50 Billion and the looming IPO…
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