Famous first bubbles - Peter M. Garber - 2000

Page 50

5

The Bubonic Plague

External to the bulb market, one extraordinary event in the period 1634–1637 may have driven the speculation. From 1635 to 1637, the bubonic plague ravaged the Netherlands, killing 17,193 people in Amsterdam alone in 1636 (one-seventh of the population). It also caused 14,502 deaths in Leiden in 1635 (33 percent of the 1622 population); and it killed 14 percent of the population of Haarlem, the center of the tulip speculation, from August to November 1636, the moment when the trading in common and cheap varieties took off. The plague had marched westward with the dynamics of the armies in Germany starting in 1630.8 Plague also broke out from 1623 to 1625, from 1654 to 1655, and from 1663 to 1664, killing in Amsterdam oneninth, one-eighth, and one-sixth of the population, respectively. Van Damme (1976) quotes C. de Koning, who states that the plague began in 1635 and forced the city authorities to take drastic health measures:


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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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