NYT Mini Crossword: Flower that caused the world's first economic bubble in the 1630s

Answer

TULIP

Letters: 5

Appeared: Oct 8, 2025

🌷 Complete Explanation

TULIP refers to "Tulip Mania" (1634-1637), widely considered the world's first recorded speculative bubble. During this period, tulip bulb prices in the Netherlands reached extraordinary levels before dramatically collapsing, making it a landmark event in economic history.

Historical Context

Tulip Mania occurred during the Dutch Golden Age when the Netherlands was at the height of its economic and cultural power. At its peak, some rare tulip bulbs sold for more than a house, with prices driven by speculative trading rather than intrinsic value.

Why This Clue Works

This clue tests knowledge of economic history through a famous case study. Tulip Mania is taught in economics courses worldwide as the classic example of speculative bubbles, making it a recognizable reference for educated solvers.

💰 Economic Impact & Legacy

Peak Prices (1637)

• Semper Augustus: 10,000 guilders (luxury house price)
• Viceroy: 3,000-4,000 guilders
• Admiral van der Eyck: 1,000 guilders
• Average skilled worker earned 150 guilders annually

Modern Parallels

• Dot-com bubble (1995-2000)
• Housing bubble (2000s)
• Cryptocurrency mania (2017, 2021)
• NFT speculation (2021-2022)

🤔 Why Other Flowers Don't Fit

ROSE (4 letters)

Never caused economic bubbles, though valuable in perfume and flower markets.

ORCHID (6 letters)

Expensive but never reached speculative bubble status in economic history.

LILY (4 letters)

Symbolically important but economically insignificant in historical terms.

DAISY (5 letters)

Common flower with no historical economic significance.

📚 Cultural & Historical Significance

Dutch Golden Age

Reflected the wealth and speculative optimism of the Netherlands' maritime trading empire and early capitalist development.

Economic Theory

Tulip Mania influenced Charles Mackay's "Extraordinary Popular Delusions and the Madness of Crowds" (1841), foundational to behavioral economics.

Modern Relevance

Continues to be referenced when discussing cryptocurrency, meme stocks, and other modern speculative phenomena.

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