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'''Tulip mania''', or '''tulipomania''', was a period during the 1630's in [[Holland]] when the Dutch devoted a great deal of [[economic]] resources to the cultivation of [[tulip]]s, and, more devastatingly, to tulip speculation. Tulips can be produced by vegetative cloning at a very slow pace or by means of seeds with a substantial wait before flowering. This scarcity drove down supply, which floated up the price. Every Dutch citizen had the idea to spend a fortune on the bulb then raise it for a year to split it in two and [[Greater Fool Theory|sell it for two fortunes]] the next. Since the trend was unsustainable, the bottom fell out of the market and the Dutch were left with a baseless economy.<ref>Extraordinary Popular Delusions, volume 1. 1841. Charles Mackay. www.gutenberg.org/etext/636</ref>  Tulip mania is one of the leading examples of an [[economic bubble]].

'''Tulip mania''', or '''tulipomania''', was a period during the 1630s in [[Holland]] when the Dutch devoted a great deal of [[economic]] resources to the cultivation of [[tulip]]s, and, more devastatingly, to tulip speculation. Tulips can be produced by vegetative cloning at a very slow pace or by means of seeds with a substantial wait before flowering. This scarcity drove down supply, which floated up the price. Every Dutch citizen had the idea to spend a fortune on the bulb then raise it for a year to split it in two and [[Greater Fool Theory|sell it for two fortunes]] the next. Since the trend was unsustainable, the bottom fell out of the market and the Dutch were left with a baseless economy.<ref>Extraordinary Popular Delusions, volume 1. 1841. Charles Mackay. www.gutenberg.org/etext/636</ref>  Tulip mania is one of the leading examples of an [[economic bubble]].

==References==

==References==