Podknife - LIVE: The Myth of the Million Dollar Tulip Bulb by Cautionary Tales with Tim Harford

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LIVE: The Myth of the Million Dollar Tulip Bulb

Podcast |: Cautionary Tales with Tim Harford
Publisher |: iHeartPodcasts,; Pushkin Industries
Media Type |: audio
Podknife tags |: History,; Society & Culture
Categories Via RSS |: History,; Society & Culture
Publication Date |: Jan 20, 2023
Episode Duration |: 00:38:47

Recorded before an audience at the Bristol Festival of Economics (11/17/2022)

The Dutch went so potty over tulip bulbs in the 1600s that many were ruined when the inflated prices they were paying for the plants collapsed - that's the oft-repeated story later promoted by best-selling Scottish writer Charles Mackay. It's actually a gross exaggeration.

Mackay's writings about economic bubbles bursting entertained and informed his Victorian readers - and continue to influence us today - but how did Mackey fare when faced with a stock market mania right before his eyes? The railway-building boom of the 1840s showed he wasn't so insightful after all.

For a full list of sources used in this episode visit Tim Harford.com

See omnystudio.com/listener for privacy information.

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