May 15, 2007
Tulipmania
Tulipmania has, apparently, been oversold:
We think we know the story of "tulipmania": the 17th-century Dutch dropped fortunes on tulips, ruined their economy, even killed themselves over the bulbs. In short, tulipmania is remembered as the first market bubble. It has been used as an analogy for subsequent ones, most recently during the dotcom boom. However, Anne Goldgar tells us at the start of her excellent debunking book: "Most of what we have heard of it is not true." For instance, Goldgar couldn't identify a single person bankrupted by tulipmania. In this dense academic work — with longueurs for readers who aren't themselves tulipmaniacs — she tells a new story.
Yeah, sure. Next thing you'll be telling me that Lemmings don't commit mass suicide by throwing themselves off cliffs!
Posted by Nicholas at May 15, 2007 01:53 PM
From "Shepherd Moons"
http://www.bowjamesbow.ca/shepherdmoons.shtml
"But you're starting off here? Thinking some telepath's out there, turning people into lemmings?"
The Doctor thought about this for a moment. "Interesting creature, the lemming," he said. "Terribly misunderstood. The lemming population goes through regular cycles in its natural habitat, and in the periods of overpopulation they become so numerous that in some colonies they crowd each other over the edges of cliffs. Human beings, being somewhat more adept at leaping, especially to conclusions, witnessed this behaviour and created the myth of mass lemming suicide."
He placed his hands on the table and spread out his fingers. "And then, in the 1950s, the Walt Disney company visited Scandinavia to film one of its nature documentaries. The cameramen set up their equipment on the beaches, expecting crowds of lemmings to plunge to their photogenic doom. The lemmings of course did no such thing. And since the reality was far less memorable than the myth, the filmmakers tightened their shots, and sent men up the cliffs. And the cameras rolled, and the wranglers stood outside the frame, and pushed the lemmings over the edge, to their deaths."
Ace's face twisted. "You're joking."
The Doctor tapped his fingers on the table. "Lemmings don't jump," he said. "They were pushed."
"So..." Ace concluded, "you don't think the people out there are behaving like lemmings."
Finally, the Doctor looked up at her. "On the contrary..." he murmured. "That's exactly what I think is happening."
Unfortunately debunking has not yet been oversold.
