Definition:
Tulip Mania
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Tulip Mania is used to refer to large economic bubbles. Tulip Mania originally came from a historical period in the Netherlands during which demand for tulip bulbs reached such a peak that enormous prices were charged for a single bulb.Tulip Mania occurred in the first part of the 17th century. The tulip was introduced to Europe in the middle of the 16th century. Shortly afterward, tulips became extremely popular in Holland.
The middle class would compete to possess the rarest tulips. Competition escalated until prices reached an unsustainable level and the bubble burst.
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