311 tulipmania powerpoint

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311 tulipmania powerpoint

  1. 1. TulipmaniaMaybe not a mania but a case of supply and demand
  2. 2. Economy 101Economists like to makefun of the tulip” mania”that gripped theNetherlands in the 1630”s.But that is because theyare comparing it by today’sstandards
  3. 3. Fit for a KingTurkish EmpireTurkey believed the tulipto almost an etherealflower.The tulip was bestowedupon visiting dignitariesas a gift of honor.
  4. 4. Envy, Lust, Greed
  5. 5. Object of Desire
  6. 6. • Unique ReproductionLuxury Items
  7. 7. • New Wave of Farmers1630’s•Lower cost toproduce flowers•Price decreaseswith greatersupply•New Wave ofbuyers…
  8. 8. HappinessI have waited my entire life to own such a treasure!! I will pay any thingto own that treasure because I will be able to sell it to my rich neighborin the spring….and become rich like them!!!
  9. 9. Get Your Tulips HereJust 3 Florins commission please!!
  10. 10. May day is Pay day… Maybe…if I can find a buyer
  11. 11. February 1637No more buyers, at any price.
  12. 12. Angry sellers and buyers!!!Some people grew to detest the tulip and what it stoodfor…greed, lust, and envy….
  13. 13. Government AssistanceOh, this is 1637, there is nosubsidized farming…
  14. 14. History Repeats ItselfTulips Housing• Speculators • Flippers• Easy Credit • No money down• Inflated Price • Inflated Price• Government Intervention • Government Intervention• Abandoned the contracts • Foreclosure• Economy Readjusts • Economy Readjusting• Booming Export • ?????
  15. 15. Long slow road to recovery

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