Thursday, April 4, 2013

Charles Mackey and Francis Bacon class notes.

In my opinion, Charles Mackeys The Tulipomania from Extraordinary Popular Delusions and the Madness of Crowds had been the roughly important to me. It was a perfect example of Americas constant search to have the most and be the best without any rational explanation. For example in his story he explains how everyone wants the rare items such as the tulip. Rare items that tidy sum only be purchased by the wealthy and the want of everyone to go steady at them for being wealthy. It is the want of the status symbol, In the passage of ten or eleven years by and by this period, tulips were lots sought after by the wealthy, and paid the most dissolute prices for them.

When everyone wants something more and more people want to get in the business, seeing a big profit. However the problem is that when everyone is phonation of something it is no longer rare and therefore not desired. The extensive demand for the tulips had people thinking that they could harbor a degenerate buck. They started liquidated their assets that have REAL value to raise tulips. People of any grades converted their property into cash, and invested it in flowers. Houses and lands were offered for sale at ruinously low prices, or assigned in payment of bargains do at the tulip-mart.

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This eventually became the norm and so the tulips were not value as much and not as desirable.

People fell into the make money fast, way that just does not exist, the tulip-jobbers speculated in the jumpstart and fall of the tulip stocks, and made large profits by buying when prices fell, and selling out when they rose. Many individuals grew suddenly rich. A fortunate bait hung temptingly out before the people, and one after the other, they rushed to the...

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