The great Dutch tulip crash probably wasn't the disaster the story claims

The 1637 collapse in Dutch tulip bulb prices is usually cited as history's first speculative bubble, wiping out fortunes overnight. Historian Anne Goldgar's archival research found little evidence of the widespread ruin the legend describes — trading was largely confined to wealthy merchants who could absorb the loss. The cautionary tale spread further than the actual damage.

— Anne Goldgar, Tulipmania: Money, Honor, and Knowledge in the Dutch Golden Age — 2007
Go deeper: get the book →