So, the swift rise in prices for contracts on tulip bulbs in late 1636 and early 1637 was less a speculative frenzy than a market rationally responding to rule changes.
If they're correct—and it'll take someone with far more economic and data-crunching expertise than Moneybox to ratify or debunk their argument—then business writers will have to delete Tulipmania from their handy-pack of bubble analogies.
TODAY IN SLATE
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