Comments by "Lynott Parris" (@DenUitvreter) on "The South Sea Bubble - The First Financial Crash" video.

Brits look into British history and then declare what they find a world's first no matter how backward they were in the period it's from.
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@LINDA-de-J0NG The argument that Tulip mania does not qualify as a bubble because it was actually of no economic relevance could be reasonably made and I just see him do it in another video. But more often than not the British don't even bother with making such an argument as if they are automatically first with everything always. The Tulip mania is probably interesting because of the nature the speculation and the 'financial products' already used shortly after the emergence of modern capitalism in the Dutch Republic in that centuries first decade, so from the basics of modern capitalism to it's excess took less than 30 years.
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@josephfisher426 The Dutch Republic was in an 80-year with Spain and in the process of bringing the Spanish Empire to it's knees. That was not cheap. It's simpler than that, the Dutch were much richer than the English, the wealth was much more spread and shared by people who celebrated things new and exotic, and were much more modern in every way and had introduced modern capitalism, something England would start on after the events of 1688 which happened to involve the Dutch Republic's army and stadtholder. That captitalism had made them from rich into spectacularly rich in a few decades and they played with it becaus uptil then only good things had come out of it. You also have to have the product for it, it's hard to think of other products that could have created a speculative bubble in that way back then. It's got to be rare but makeable, have variations and have appeal. But in general, the British not being first is not in need of explanation. From things between let's say 1750-1850 not happening first in Britain the question why that was could be legitimate, but not in the 17th century when Britain still had one leg stuck in the Dark Ages.
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@thepostapocalyptictrio4762 Indeed, English propaganda against that silly financial thing from the Dutch Republic that would later be known as capitalism. It didn't have any measurable economic effect besides a few speculators going bankrupt and it was called tulip mania in Dutch, emphasizing the craziness of the people rather than an economic phenomenon.
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