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Review
Who would have thought that the humble tulip, so readily available these days in the garden centres and supermarkets, once almost caused war, battles royal between collectors and an orgy of buying and selling that was greater than that ever created on Wall Street by oil or gold. Individual bulbs were being sold for amounts 10 times the sum an ordinary family would live on for a year causing eyebrows to rise in neighbouring countries who watched with disbelief as this normally staid and reserved country descended into farce over a single flower. This was not about horticulture but money. Wealth, if you played your cards right, undreamt of, taking place in 17th century Holland in the years 1633-1637. Now referred back to as the great Dutch tulip mania, it almost mirrors the boom and bust years of the 1980s when everyone was scrambling to buy shares and better themselves before it all fizzled out at the end of the decade with multi bankruptcies and repossessions. Mike Dash takes the reader on a fascinating history of this humble plant, from its origins in the East where it caused a different kind of frenzy in religion being regarded as a "holy" flower to the madcap years of trading in the West. From the blooms seen in the acclaimed Dutch botanical paintings to the more recognisable, these small bulbs caused a stir in the financial world still quoted today in student texts. More a novel of intrigue and adventure than a horticultural tale, this is a must for anyone with a green streak and an ounce of recklessness in them. - Lucy Watson
--This text refers to an out of print or unavailable edition of this title.
Book Description
A vivid narrative history of the strangest stock market boom in history - the mania over tulips in 1630s Holland.
--This text refers to an out of print or unavailable edition of this title.
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Most Helpful Customer Reviews
10 of 11 people found the following review helpful
Format:Paperback
When it comes to trends in publishing, popular history is the new black. Since the unexpected success of Longitude we've been deluged with small format narrative histories of colourful people and events. Some were good, some bad - but Tulipomania is one of the very best. The subject matter is a gift, to begin with, but the author tells the story beautifully. This book is lively, funny, engaging and - in passing - it teaches you a lot more about the history of the Dutch Golden Age than you probably realise. The chapters set in the Ottoman empire are if anything even more evocative, but, throughout, there's no shortage of colour and anecdote and even the index is amusing. Tulipomania is a sure-fire bet for anyone who likes history and loves a good story, well-told.
1 of 1 people found the following review helpful
Format:Hardcover
A fascinating overview of the rise and fall of Tulipmania - with the emphasis on mania. Anyone looking for parallels with 2008 won't be disappointed. All the elements are there. Initially, tulips would be bought and sold on flowering, but it wasn't long before someone had the bright idea of creating a futures market in bulbs - putting down a deposit with a promise to pay at some later date - increasing leverage in the process by buying larger and larger quantities in the expectation of a significant rise in value. It all goes to prove that Put and Call options, and ineffective attempts to ban to ban short-selling are nothing new. There was even the development of a sub-prime market as cheaper varieties were sold by the pound and a flood of new investors entered the market, keeping the whole process going.
Unlike the current situation, however, and despite a hesitant and un-coordinated initial response by the authorities (sound familiar?), this `shadow market' in tulip derivatives was eventually unwound without seriously affecting the `real economy'. The collapse didn't prevent a similar, if smaller scale, mania for hyacinths a century later - but, we never learn, do we? The elements of every bubble are the same - a surge in value against a background of lax regulation creating unsustainable but irresistible expectations of future profits, and a growing disregard for risk.
Mike Dash has written an absorbing tale, recounting the history of the flower, and giving an outline of the political and economic context of the United Provinces - but the subject matter is immaterial, the story is a recurrent tale of the irrationality of markets and human folly, and that can happen in any context.
Unlike the current situation, however, and despite a hesitant and un-coordinated initial response by the authorities (sound familiar?), this `shadow market' in tulip derivatives was eventually unwound without seriously affecting the `real economy'. The collapse didn't prevent a similar, if smaller scale, mania for hyacinths a century later - but, we never learn, do we? The elements of every bubble are the same - a surge in value against a background of lax regulation creating unsustainable but irresistible expectations of future profits, and a growing disregard for risk.
Mike Dash has written an absorbing tale, recounting the history of the flower, and giving an outline of the political and economic context of the United Provinces - but the subject matter is immaterial, the story is a recurrent tale of the irrationality of markets and human folly, and that can happen in any context.
5 of 6 people found the following review helpful
Format:Paperback
Definitely a book written for those who enjoy history and gardening, Mike Dash does a great job of engaging the reader in the motives behind the madness surrounding the tulip. The text is somewhat history heavy in the beginning, but Dash does paint a very vivid picture of the Netherlands during the 17th century. I enjoyed the combination of botany, economics and social history that Dash employed to describe this very interesting flower.
Most Recent Customer Reviews
Extraordinary Popular Delusions and the Maddinging Stubbornness of the...
..Aaaand yet another 20th century author perpetuates the myth brought into life by Charles Mackay's 19th century 'Extraordinary Popular Delusions and the Madness of... Read more
Published 2 months ago by M. Ros
A fascinating and timely read though not without flaws
A small group of overly-ambitious and self-regulating traders pool together in a cramped room, electric with frenetic energy. Read more
Published 3 months ago by C. Dearden
tulip history
Have read this in real print and now in Kindle. I find it most interesting as it follows the history of tulips and what caused the financial "bubble" of the 1600's. Read more
Published 3 months ago by Nan
Stupidity is timeless
How many key people in the 'financial industry' would have read Tulipomania? My hunch is, very few. First of all, most of these overpayed morons never read any books to start with... Read more
Published 8 months ago by M. Baerends
Enjoyable
A highly enjoyable slice of popular history, it seems well researched and covers a subject that probably wont be something most people will have much of a knowledge in. Read more
Published 8 months ago by Mr. M. J. Payne
Enjoyable and insightful
A thoroughly enjoyable book. A lot of interesting insight and analysis and always lots of good anecdotes. Read more
Published 18 months ago by The Emperor
A wonderful Christmas present!
This book is full of interesting facts and stories, and would appeal to many people as the perfect Christmas gift! The history is fascinating, and the illustrations are lovely. Read more
Published on 17 Nov 1999
Makes you feel as though you were there
What a wonderful, involving book! Beautifully well-written and expertly researched, Tulipomania really does give you the impression you are a fly on the wall in the sweaty,... Read more
Published on 25 Oct 1999
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