Tulipmania : Money, Honor, and Knowledge in the Dutch Golden Age

In the 1630s the Netherlands was gripped by tulipmania: a speculative fever unprecedented in scale and, as popular history would have it, folly. We all know the outline of the story—how otherwise sensible merchants, nobles, and artisans spent all they had (and much that they didn’t) on tulip bulbs. We have heard how these bulbs changed hands hundreds of times in a single day, and how some bulbs, sold and resold for thousands of guilders, never even existed. Tulipmania is seen as an example of the gullibility of crowds and the dangers of financial speculation. But it wasn’t like that. As Anne Goldgar reveals in Tulipmania, not one of these stories is true. Making use of extensive archival research, she lays waste to the legends, revealing that while the 1630s did see a speculative bubble in tulip prices, neither the height of the bubble nor its bursting were anywhere near as dramatic as we tend to think. By clearing away the accumulated myths, Goldgar is able to show us instead the far more interesting reality: the ways in which tulipmania reflected deep anxieties about the transformation of Dutch society in the Golden Age. “Goldgar tells us at the start of her excellent debunking book: ‘Most of what we have heard of [tulipmania] is not true.’. . . She tells a new story.”—Simon Kuper, Financial Times (20080212)

In the 1630s the Netherlands was gripped by tulipmania: a speculative fever unprecedented in scale and, as popular history would have it, folly. We all know the outline of the story—how otherwise sensible merchants, nobles, and artisans spent all they had (and much that they didn’t) on tulip bulbs. We have heard how these bulbs changed hands hundreds of times in a single day, and how some bulbs, sold and resold for thousands of guilders, never even existed. Tulipmania is seen as an example of the gullibility of crowds and the dangers of financial speculation.
           

But it wasn’t like that. As Anne Goldgar reveals in Tulipmania, not one of these stories is true. Making use of extensive archival research, she lays waste to the legends, revealing that while the 1630s did see a speculative bubble in tulip prices, neither the height of the bubble nor its bursting were anywhere near as dramatic as we tend to think. By clearing away the accumulated myths, Goldgar is able to show us instead the far more interesting reality: the ways in which tulipmania reflected deep anxieties about the transformation of Dutch society in the Golden Age.
           
“Goldgar tells us at the start of her excellent debunking book: ‘Most of what we have heard of [tulipmania] is not true.’. . . She tells a new story.”—Simon Kuper, Financial Times

Sixteenth Century Journal

"Goldgar persuasively demolishes most of the myths and exaggerations surrounding this affair. . . . [She] treats it as a microhistorical lens through which we can learn much about the society and culture of the young Dutch Republic. . . . Cultural history at its best."—Christine Kooi, Sixteenth Century Journal

— Christine Kooi

In the 1630s the Netherlands was gripped by tulipmania: a speculative fever unprecedented in scale and, as popular history would have it, folly. We all know the outline of the story--how otherwise sensible merchants, nobles, and artisans spent all they had (and much that they didn't) on tulip bulbs. We have heard how these bulbs changed hands hundreds of times in a single day, and how some bulbs, sold and resold for thousands of guilders, never even existed. Tulipmania is seen as an example of the gullibility of crowds and the dangers of financial speculation. But it wasn't like that. As Anne Goldgar reveals in Tulipmania, not one of these stories is true. Making use of extensive archival research, she lays waste to the legends, revealing that while the 1630s did see a speculative bubble in tulip prices, neither the height of the bubble nor its bursting were anywhere near as dramatic as we tend to think. By clearing away the accumulated myths, Goldgar is able to show us instead the far more interesting reality: the ways in which tulipmania reflected deep anxieties about the transformation of Dutch society in the Golden Age. She shows how Dutch citizens became enchanted by the combination of art and science that made up a tulip bulb, and how experts in tulips appeared in communities of merchants and craftsmen. She also illustrates vividly how the plague, the concerns of capitalism, and the loss of trust among individuals in a rapidly changing society combined to create the cultural crisis that was tulipmania. Throughout this bracing history, Goldgar writes elegantly about everything from intellectual communities to the economics of speculation to the beauty of tulips themselves. Far more than simply dispelling myths, Tulipmania brings the Dutch Golden Age to life. --Publisher In the 1630s the Netherlands was gripped by tulipmania: a speculative fever unprecedented in scale and, as popular history would have it, folly. We all know the outline of the story—how otherwise sensible merchants, nobles, and artisans spent all they had (and much that they didn’t) on tulip bulbs. We have heard how these bulbs changed hands hundreds of times in a single day, and how some bulbs, sold and resold for thousands of guilders, never even existed. Tulipmania is seen as an example of the gullibility of crowds and the dangers of financial speculation. But it wasn’t like that. As Anne Goldgar reveals in __Tulipmania__, not one of these stories is true. Making use of extensive archival research, she lays waste to the legends, revealing that while the 1630s did see a speculative bubble in tulip prices, neither the height of the bubble nor its bursting were anywhere near as dramatic as we tend to think. By clearing away the accumulated myths, Goldgar is able to show us instead the far more interesting reality: the ways in which tulipmania reflected deep anxieties about the transformation of Dutch society in the Golden Age. “Goldgar tells us at the start of her excellent debunking book: ‘Most of what we have heard of [tulipmania] is not true.’. . . She tells a new story.”—Simon Kuper, __Financial Times__ In the 1630s the Netherlands was gripped by tulipmania: a speculative fever unprecedented in scale and, as popular history would have it, folly. We all know the outline of the storyhow otherwise sensible merchants, nobles, and artisans spent all they had (and much that they didnt) on tulip bulbs. We have heard how these bulbs changed hands hundreds of times in a single day, and how some bulbs, sold and resold for thousands of guilders, never even existed. Tulipmania is seen as an example of the gullibility of crowds and the dangers of financial speculation. But it wasnt like that. As Anne Goldgar reveals inTulipmania, not one of these stories is true. Making use of extensive archival research, she lays waste to the legends, revealing that while the 1630s did see a speculative bubble in tulip prices, neither the height of the bubble nor its bursting were anywhere near as dramatic as we tend to think. By clearing away the accumulated myths, Goldgar is able to show us instead the far more interesting reality: the ways in which tulipmania reflected deep anxieties about the transformation of Dutch society in the Golden Age. Goldgar tells us at the start of her excellent debunking book: Most of what we have heard of [tulipmania] is not true. . . She tells a new story. Simon Kuper, Financial Times Contents......Page 10 Acknowledgments......Page 12 List of Illustrations......Page 16 Introduction......Page 22 One : Something Strange......Page 41 Two : Art & Flowers......Page 83 Three : Bloemisten......Page 152 Four : Grieving Money......Page 227 Five : Bad Faith......Page 286 Epilogue : Cabbage Fever......Page 338 Glossary......Page 354 A Note on Money......Page 356 Abbreviations......Page 358 Notes......Page 360 Index......Page 432 Something Strange -- Art & Flowers -- Bloemisten -- Grieving Money -- Bad Faith -- Epilogue: Cabbage Fever. Anne Goldgar. Includes Bibliographical References (p. 327-397) And Index.