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Soon, prices were rising so fast and high that people were trading their land, life savings, and anything else they could liquidate to get more tulip bulbs. Many Dutch persisted in believing they would sell their hoard to hapless and unenlightened foreigners, thereby reaping enormous profits. Somehow, the originally overpriced tulips enjoyed a twenty-fold increase in value - in one month!” Eventually the market crashed and individuals who had traded the value of their home for a single tulip realized their mistake.
• South Seas bubble: This financial institution was granted a monopoly over trade in the South Seas by the British government...
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