Tulipomania / Tulip Mania
Tulipomania and its bursting seems to have thrown the Dutch citizenry into dismay. Today, the arguments for and against "bursting bubbles" continue, but the economic and social impact of such unrealistic moments tends to go on for a very long time. The argument about the cause and effect of speculative bubbles has as well. Markets are essentially rational within a free-market context. They rise and fall without dramatics and the truly great manias are always found to be manmade.