Tulip Mania, Not a Myth

Goldgar claims in her latest article that she found no bankruptcies or suicides associated with the bust and that the Dutch economy was not affected by the crash. However, the data I discovered while writing my thesis for Murray Rothbard that is the book Early Speculative Bubbles and Increases in the Supply of Money, was that there was a doubling of bankruptcies in Amsterdam from 1635 to 1637.

Also, Ms. Goldgar must have forgotten the numerous lawsuits she mentioned in her book that were spawned by busted tulip deals. Some of the litigation lasted for years after the bulb price crash in February 1637.