Tulip Mania: The First Economic Bubble

Рет қаралды 120,992

Күн бұрын

In the 17th century single tulips were traded for amounts of money worth canal houses in Amsterdam. This video explains how this happened and why tulips of all things were the centrepiece of this mania.
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With Ciceroni we seek to be a guide to European culture and history. We make videos on little known subjects as well as more ubiquitous ones, ranging from current affairs like the European Union, to historic events like the Tulip Mania, and even mythological stories like those of the Greek Gods. In all these videos we strive to present the subjects in a objective manner and within their complex context.
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Пікірлер: 150

@vivienlegeisha3425 5 жыл бұрын

This is probably the best explanation I’ve seen on the tulip mania.

@faridah.8074 6 жыл бұрын

So informative! Really enjoyed watching it, keep it up!

@afrorum4861 6 жыл бұрын

This actually the best explanation about this in youtube thanks guys

@steven3549 6 жыл бұрын

Great video, good work guys

@josephcallahan1664 3 жыл бұрын

This is very well done and explained. Thank you.

@Ciceroni1 3 жыл бұрын

Thanks for watching!

@tonymoretti2347 6 жыл бұрын

Well explained!!

@karolynkelly-okeefe1268 7 жыл бұрын

Bravo to those who created this excellent and exceedingly clever documentary and for presenting the subject within its complete context. Your use of snippets of humor was unexpected and much enjoyed. Oh, And "THANK YOU" to the Dutch people for President Theodore Roosevelt, TR Jr., FDR and Eleanor. In fact, please send us more Roosevelts!

@Ciceroni1 7 жыл бұрын

Thank you, Karolyn. We are glad you enjoyed it!

@engespress 6 жыл бұрын

The Roosevelt family were connected to the African slave trade.

@Smokecheck7 3 жыл бұрын

Our greed as well as our stupidity know no bounds

@SSlava21 6 жыл бұрын

The Bitcoin bubble brought me here.

@neoepicurean3772 3 жыл бұрын

And brought me back here in 2021

@jizzdogs 3 жыл бұрын

Technology vs Flowers :)

@saadsaad4605 3 жыл бұрын

@@jizzdogs imaginary digital "coin" vs flower.

@jizzdogs 3 жыл бұрын

@@saadsaad4605 new technology will only be beaten by newer technology

@saadsaad4605 3 жыл бұрын

@@jizzdogs you mean imaginary digital coins can only be beaten by other imaginary digital coins.

@lanehollar9891 2 жыл бұрын

Great explanation. Sounds like about everything going on in the US. Stocks & housing, commercial real estate.

@Ciceroni1 2 жыл бұрын

Not only in the US...

@joerostkowski7313 2 жыл бұрын

The value was in tulips being a natural mosquitoe repellent during black plaque

@Ciceroni1 2 жыл бұрын

While that might have been of value during the Black Plague, this was definitely not the reason for the value of the expensive tulips during the mania.

@silenttroll4772 8 жыл бұрын

Cool stuff jonges. Will you do more videos on dutch culture?

@Ciceroni1 7 жыл бұрын

We might in the future, but we are currently working on some other videos :)

@MrBelseBoB 3 жыл бұрын

My girlfriend is planting tulips right now and all I'm babbling about is the first economic bubble and crazy tulips! Thanks to this video my very interesting story will make sense 😉 thank you

@Ciceroni1 3 жыл бұрын

Haha, sounds familiar and very glad you liked our video ;)

@TheEndlessVariables 6 жыл бұрын

Finally, a solid explanation. Also I wonder what would happen if the semper augustus popped up in someone's garden. would it possibly and ironically be worth a house these days?

@Iliash314 6 жыл бұрын

Unless you would use it to blackmail the Tulip growers, it's probably the opposite of valuable. :) Keeping that flower around would be a great risk. The virus kills most tulips that are infected and only leaves a few in the famous broken condition. The Dutch business of growing tulips alone is worth nearly a billion euros, so the damage of a virus breaking out could be very significant.

@michaelgohn2554 4 жыл бұрын

What is the music used in this? By the way, fantastic video! It really helped me understand Tulipomania.

@Ciceroni1 4 жыл бұрын

Thanks for the compliment! Glad we could be of help. The music is Mozarts piano Sonata no. 11 in A major.

@odriyi 3 жыл бұрын

@@Ciceroni1 Nice music ( and overall informative video), but the volume is too high, it's almost as high as the narrator's voice volume.

@muhammadkhan6724 4 жыл бұрын

What causes tulipmania in holland?

@Mr4thetruth 6 жыл бұрын

Excellent video. Understand this and how the futures/derivatives markets started and you will have a good understanding of the basics of world economics. Check out the massive rise in bitcoin, some speculate that this is another huge bubble waiting to burst.

@Tendertroll1 5 жыл бұрын

Graham M. Lawrence bitcoin ain’t dead yet. It always rises above, no matter how many times we think it is dead

@Brilchan 3 жыл бұрын

Yes I used this video to show to a Bitcoin stans on FB (I got a commercial for the scam) but if someone does not believe in global warming they will not get a basic economy.

@gEnide7 3 жыл бұрын

Still waiting?

@GeorgeCataB 3 жыл бұрын

still waiting, huh?

@studiosnch 7 жыл бұрын

Damn I was able to catch those small jokes. > Augustus This does remind me of the used camera market, especially with the highly-branded camera market (Leica in particular). Thankfully no "used camera bubble" is existing yet since it's not futures being sold but rather products. Still, Leica camera prices can act like the Golden Age Tulips, with rare models selling for a Semper Augustus.

@uranusplanet1226 3 жыл бұрын

W Buffet opened my eyes to this. $BTC Mania

@alter3go411 7 жыл бұрын

6:06 Haha. Classic!

@jonty111 3 жыл бұрын

What drove you to use the umbrella corp logo to represent the tulip virus in the video ?…. Just so relatable to recent global events. Haha

@Ciceroni1 3 жыл бұрын

Indeed Bitcoin and a global pandemic have made our video more apropos than we would had expected. Umbrella corp was a no brainer. Not only does it allow us to tip our hat to the RE games, it also happens to be the right colours. Meant to be ;)

@alexanderpataki5567 6 жыл бұрын

I found this video specifically to send to my cousin as a cautionary tale why he shouldn't invest in BitCoin. Yeah, he knows computers much better than I had, but history and economics not so much. Yes, it's novel and innovative, but its just another thing to buy and sell, awesome encryption not withstanding.

@OsaMaEHA 2 жыл бұрын

I hope he didnt sell

@koffiewolf 5 жыл бұрын

FUN FACT: after the price collapsed a lot of investors and tulip merchants went to there local city halls to negotiate there lost investment. A lot of tulips got ordered in advance and the people who did not received a tulip did not wanted to pay. This made the growers really mad as they already invested in it and stated that they already had a deal. But the city's governments did not wanted to interfere because they found this war against Spain more important and also really time consuming. Just weeks after city councils were like ''maybe we should make sure the entire country doesn't go bankrupt because of some flowers'' and people manged to get some money back.

@AsanSan-th6wh 3 ай бұрын

❤❤ MIMPI MELIHAT KEINDAHAN TAMAN SURGA ADN BUNGA TULIP ❤❤

@d.u.j.5195 3 жыл бұрын

Tulips originally belonged to western china ..after which they were further brought to Turkey and Europe

@anthonyevans535 5 жыл бұрын

I'm sure there were some winners of the tulip mania, like bitcoin..

@Ciceroni1 5 жыл бұрын

Your are absolutely right. There were winners in this bubble as indeed there are with bitcoin and the housing market. The people who timed their speculation well or were lucky, made fortunes. Speculation can pay off, as gambling in Las Vegas can. It is important to recognise it as being pure speculation, different from investing in something that has intrinsic value.

@user-gk1sb2fz5r 2 жыл бұрын

It's like nft when they were selling the "future" tulips

@Ciceroni1 2 жыл бұрын

haha yeah very much so

@AsanSan-th6wh 2 ай бұрын

❤🎉❤ WATAK KERAKTER KEPRIBADIAN INTROVERT TULIP MANIA❤🎉❤

@d.u.j.5195 3 жыл бұрын

Bitcoin bubble is so relatable to this one !

@BudiDi-vd8id 5 ай бұрын

☁️☁️🌷🌷🍀🍀 ANGIN DUA AWAN PUTIH ☁️☁️🌷🌷🍀🍀 SEJUK HATI YANG DILAPANGKAN ☁️☁️🌷🌷🍀🍀

@johnnynephrite6147 2 жыл бұрын

This makes it sound like only the rich were the ultimate consumers of these tulip bulbs. But didn't people of all economic classes speculate?

@Ciceroni1 Жыл бұрын

I wouldn’t say all classes, but yes it was not only the filthy rich that could participate. The Dutch didn’t only speculate with tulip bulbs of course. The first stock exchange dealt a lot with foreign trade. Many people could and did participate there. But the lowest classes probably didn’t have much financial access to this.

@keithgray5525 6 жыл бұрын

The is great! You can reuse it when Bitcoin crashes...just replace tulips with Bitcoin

@jamiegallagher44 3 жыл бұрын

Still waiting..........

@mathiasm8489 3 жыл бұрын

Bitcoin can has a role as store of value just like gold, so it is totally different from tulips,

@IamMuldeh Жыл бұрын

@@mathiasm8489 you can use literally anything as a store of value.

@BudiDi-vd8id 5 ай бұрын

☁️☁️🌷🌷🍀🍀 KEINDAHAN TAMAN SURGA ADN BUNGA TULIP ☁️☁️🌷🌷🍀🍀

@seansheehan6864 7 ай бұрын

Awesome work BRAVOOOOOOOOO TULIPS LOL THEATER

@Ciceroni1 4 ай бұрын

Haha thanks.

@dead-account 2 жыл бұрын

Bro's teaching us with miis 💀

@Ciceroni1 2 жыл бұрын

Haha, yep :)

@cudelalex9238 3 жыл бұрын

From Mr.Jones class

@Ciceroni1 3 жыл бұрын

Thank this mysterious Mr Jones from us :)

@hummakavula1304 3 жыл бұрын

Interesting presentation but music is too loud.

@Ciceroni1 3 жыл бұрын

Thanks. We’ll tell Ludwig to keep it down next time :)

@Ciceroni1 3 жыл бұрын

Quick correction: we very often have Ludwig doing the music but not in this video. Here it's Wolfgang.. Credit where credit is due :)

@daadirabbi 5 жыл бұрын

Dank well

@Ciceroni1 5 жыл бұрын

Graag gedaan ;)

@anthonyevans535 5 жыл бұрын

History repeats itself with Bitcoin..

@georgeorwell5596 2 жыл бұрын

Thank you for the history lesson, but didn't need the music, please speak slightly slower thanks again

@Ciceroni1 2 жыл бұрын

Thanks for the feedback:)

@Tendertroll1 5 жыл бұрын

Bitcoin is not dead people. People are comparing bitcoin to a tulip, nonsense.

@Ciceroni1 5 жыл бұрын

Tulips aren't dead either :) The speculation with Bitcoin had a lot in common with the situation during tulip mania. That doesn't mean the subject of speculation itself has no value at all, just that its intrinsic value is lower than its inflated trading value during the boom. We still very much like tulips and you can make good money growing and selling them but the price has normalised since the Mania. Maybe the same will be true for bitcoin.

@koyaanisqatsi316 3 жыл бұрын

But what do you actually "own" with a bitcoin, and what can you do with it?

@jizzdogs 3 жыл бұрын

The flowers vs new technology argument didn’t really hold well in the Tesla boardroom. Some of these dinosaurs on this comment feed will soon find out

@normanzimmerman5029 2 жыл бұрын

2021

@dr.zoidberg4313 3 жыл бұрын

Tulips? Pfft. Should've invested in apple.

@Ciceroni1 3 жыл бұрын

Nothing lasts forever, neither tulips nor apples ;)

@KidDestiny 6 жыл бұрын

u know alot about tulips lol

@simoncox1133 2 жыл бұрын

"Successfully invaded Britain" - Cobblers! Britain hasn't been successfully invaded since 1066. Every school kid knows that fact.

@Ciceroni1 2 жыл бұрын

It's a matter of rebranding the successful invasion as the "glorious revolution" en.wikipedia.org/wiki/Glorious_Revolution Also this happened. Part of the English flagship still hangs in the Dutch national museum as a booty of war. en.wikipedia.org/wiki/Raid_on_the_Medway

@user-tv3wi2rb4v 6 жыл бұрын

bitcoin brought me here!

@oliverlarcombe6576 5 жыл бұрын

"Invaded Britain" bit of a leap

@Ciceroni1 5 жыл бұрын

Is it now? "William's successful invasion of England with a Dutch fleet and army led to his ascension to the throne as William III of England" en.wikipedia.org/wiki/Glorious_Revolution

@Ciceroni1 5 жыл бұрын

Maybe also of interest in this context is the second half of this short podcast of the Legatum Institute. itunes.apple.com/nl/podcast/how-to-be-dutch-the-modern-way-with-maarten-prak/id768696277?i=1000340670378&l=en&mt=2

@cengizsogutlu 6 жыл бұрын

tulips were from turkey i didnt see in your video -_-

@Ciceroni1 6 жыл бұрын

+Cengiz söğütlü you’re right, and indeed we didn’t mention that nice little fact. Sadly we can’t mention everything...

@cengizsogutlu 6 жыл бұрын

but it was great video

@Ciceroni1 6 жыл бұрын

+Cengiz söğütlü thanks, glad you like it!

@1stMilcom 6 жыл бұрын

Now 400 years later, we are no wiser as investor! Behold the Bitcoin bubble today! I am going to make a short video on my channel about the coming rise and collapse of Bitcoin.

@Ciceroni1 6 жыл бұрын

We actually just made a short video about Bitcoin, you can find it here: kzfaq.info/get/bejne/oqyoiqeJyNfOqqM.html

@afrorum4861 6 жыл бұрын

even if bitcoin falls I'll buy even more cuz bitcoin is here to stay bitcoin has open a door that can never close

@parthdalvi7310 4 жыл бұрын

After 4 centuries tulip is replaced by crypto currency the bubble is same

@Ciceroni1 4 жыл бұрын

Nothing changes but the weather. I think you might like another video we made: Bitcoin: Money of the future? (1st prize in ECB Euro Video Challenge) kzfaq.info/get/bejne/oqyoiqeJyNfOqqM.html

@quinnporter289 4 жыл бұрын

Animal crossing turnip mania

@Ciceroni1 4 жыл бұрын

Who hasn't suffered that!

@Kokobowers 6 жыл бұрын

Bitcoin

@AsanSan-th6wh 3 ай бұрын

❤❤ SURAH AI BAYYINAH ( PEMBUKTIAN ) ❤❤

@ruigerd 3 жыл бұрын

You sound dutch when speaking Dutch, but english when speaking English. How did you lose the accent?!

@BudiDi-vd8id 5 ай бұрын

☁️☁️🌷🌷🍀🍀SURAH AI BAQARAH ( SAPI BETINA ) ☁️☁️🌷🌷🍀🍀

@fergabmmx 2 жыл бұрын

its like those people that buy Worthless NFTs with the hope to re sell them to make a profit until everyone realize they are worthless nothingness on the internet and lost money on it so ...... wow .. people really dont learn...

@Ciceroni1 Жыл бұрын

It is indeed quite similar. But like every time, some people lose a lot of money and others make a lot.

@chineduokonkwo5777 3 жыл бұрын

I came here to know where crypto currency is taking us to. Great history learnt.

@uranusplanet1226 3 жыл бұрын

If you really love $Bitcoin you can buy it dirt cheap for pennies when its all over. What you will do with it? Nothing. Frame with it. Tell your grandkids I have 1 Million bitcoin that worth $1 if not Zero. You own digital numbers with password on it lol.

@Ciceroni1 3 жыл бұрын

Quite possibly indeed. We’ve made a video along those lines if you are interested: kzfaq.info/get/bejne/oqyoiqeJyNfOqqM.html

@renefern6666 Жыл бұрын

sounds like bitcoin

@ricknewhouse3705 3 жыл бұрын

@ReynSpoonerfan 3 жыл бұрын

Sounds like bitcoin

@somethingelse9228 5 жыл бұрын

This reminds me of Bitcoin....... Nah, I have faith in altcoins.... They will do better than Bitcoin

@thinkpositive3667 4 жыл бұрын

*But the value of the majority of altcoins still depends if bitcoin goes up or down.*

@cr4723 2 жыл бұрын

Deutsche Beschreibung aber englischer Ton? Was soll dieser Unsinn?

@Ciceroni1 2 жыл бұрын

Moderne Technologie ;) KZfaq hat automatische Übersetzung ;) Wobei unser Ton nicht übersetzt werden kann, kannst du schon Deutscher Untertitel an schalten :)

@cr4723 2 жыл бұрын

@@Ciceroni1 automatische Übersetzung? Warum nur bei diesem Video? Andere Videotitel werden nicht übersetzt und bleiben englisch. Vielleicht hast du etwas eingestellt?

@SUMERUP 2 жыл бұрын

music awful.. information racing, why? so that we forget quickly? with a little bit more equilibrium you wouldn't destroy the furthermore excelling info..

@Ciceroni1 2 жыл бұрын

You really like to start with the bad news eh? 😅 I made my way to the compliment though. Thanks!

@DrSimeonHill808 5 жыл бұрын

As an investor who called it I hate to say it but bit coin is not headed anywhere and in a time of tumultuous investment I sealed that crypto currencies are one of the most dangerous and fraught full opportunities in modern history mining computers data and information is valuable but does not hold inaliable valuable value Aerugo bit coin is as simple as to look Mania as we see many more crypto currencies popping up it seems like a large wash from the silk road and poppy fields to a digital technologies E.

@BudiDi-vd8id 5 ай бұрын

☁️☁️🌷🌷🍀🍀 REZEKINYA MALAM LAILATUL QADAR ☁️☁️🌷🌷🍀🍀