Famous first bubbles - Peter M. Garber - 2000

Page 32

1

A Political and Economic Background

The introduction of the tulip market into the Netherlands and the tulipmania occurred in the midst of the Eighty Years’ War of independence between the Dutch and the Spanish.1 Spanish possession of the Low Countries had arisen through marriage; both the old Burgundian possessions in the Low Countries and Spain had been melded with Hapsburg territories in Central Europe in this manner. In trying to centralize and make organizational sense of this amalgamation of territories, the Hapsburgs attempted to impose administrative reforms that initiated the Dutch rebellion in 1567. This war was waged continuously, with Spain using the Spanish Netherlands (Belgium) as a base to attack the United Provinces until the Twelve Years’ Truce was arranged in 1609. The Spanish were thwarted in their attempts to subjugate the Netherlands, which consolidated its territory and eventually seized control of most of international shipping. During this phase of the war, the English and Dutch formed an alliance, under


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Articles inside

Index

9min
pages 168-176

References

3min
pages 162-167

Notes

3min
pages 158-161

Appendix 2:The Seventeenth-Century Tulip Price Data

9min
pages 146-157

Appendix 1:The Tulipmania in the Popular and Economics Literature

5min
pages 140-145

19 Conclusion

3min
pages 136-139

17 South Sea Finance Operations

5min
pages 128-133

18 Fundamentals of the South Sea Company

2min
pages 134-135

16 Law’s Shadow: The South Sea Bubble

4min
pages 122-127

Fundamentals

2min
pages 118-121

14 John Law’s Finance Operations

9min
pages 108-117

and South Sea Bubbles

2min
pages 104-107

11 Was This Episode a “Tulipmania”?

11min
pages 88-97

Bubbles

3min
pages 100-103

9 Post-Collapse Tulip Prices

4min
pages 74-77

10 Bulb Prices in Later Centuries

8min
pages 78-87

7 The Bulb Market, 1634–1637

5min
pages 56-61

6 The Broken Tulip

3min
pages 52-55

5 The Bubonic Plague

2min
pages 50-51

Futures Markets and Short Selling: The Source of the Pamphlets

4min
pages 46-49

John Law and the Fundamentals of the Mississippi

1min
pages 26-27

2 The Traditional Image of Tulipmania

2min
pages 38-41

From?

3min
pages 42-45

APreliminary View: The Mississippi and South Sea

1min
page 25

Establishment Attitudes toward

9min
pages 17-24

1 APolitical and Economic Background

4min
pages 32-37

Where Does the Tulipmania Legend Come

1min
page 16
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