During the past few weeks I’ve frequently been reminded of the 1634–1637 tulip mania. In the early seventeenth century, French ladies at court would pay hundreds of guilders for a tulip flower, which they wore in their décolleté at gala evenings.
The tulip market in Haarlem collapsed on a dark February evening in 1637. Suddenly people became aware they were dealing with a scam. It was the first well reported boom and bust; they called it tulip mania.
I had two dreams last night: Europe is one huge tulip bulb and worth a good deal less than it thinks it is & about the Mayor of London elections: The Blond Tulip (Boris Johnson) versus Forget-Me-Not (Ken Livingstone).
Enjoy the full column.