From tulips to tech startups, learn about the events that created some of the biggest financial meltdowns in history.
An economic bubble is a time of fast economic expansion that is driven by speculative enthusiasm and excessively high asset prices. A bubble is characterized by an increase in demand for an asset, such as commodities, stocks or real estate, which drives up its price. A number of factors, including easy access to credit, low interest rates and investor optimism, frequently combine to create financial bubbles.
Numerous investors, including affluent merchants and aristocrats, lost their fortunes when the tulip bubble burst, leaving them with worthless bulbs. Considered one of the earliest historical economic bubbles, the tulip mania is sometimes cited as a warning about the risks of speculation.A speculative bubble known as the South Sea bubble developed in England in the early 1700s and was based on the South Sea Company, which had been given a monopoly on trade with South America.
The economic crisis also resulted in a decrease in consumer spending, undermining public confidence in the government and the financial system, leading to a general distrust of speculative investment that lasted for several decades.The railroad craze, commonly referred to as the “railway mania” of the 1840s, was a time when the railway sector in Great Britain experienced significant growth.
A speculative stock market bubble lasted for more than a decade and was inflated by a number of causes, including easy borrowing and optimism about the future, which contributed to the disaster.
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