Holland is gripped by tulip mania.

郁金香狂潮牵动着荷兰。

Perhaps the granddaddy of all bubbles was Dutch tulip mania in the 1630s.

也许所有经济泡沫的鼻祖是17世纪30年代的荷兰郁金香热。

As a business journalist, I've always found tulip mania to be fascinating.

作为一名商业记者，我总是发现郁金香狂热是令人着迷的。

This helps explain bubbles. From the Dutch Tulip Mania of the 17th century to the 2008 financial crisis.

这有助于解释泡沫，从17世纪的荷兰郁金香狂热到2008年的金融危机等泡沫。

Today's trade grew from tulip mania, the 17th century economic bubble, when tulip bulbs sold for more than a year's wages.

今天的贸易起源于17世纪经济泡沫时期的郁金香热，当时郁金香球茎的售价超过一年的工资。

Here in Amsterdam, Tulip Mania did have one lasting effect.

在阿姆斯特丹，郁金香狂潮确实产生了一种持久的影响。

Let's use Tulip Mania as an example to understand the anatomy of a bubble.

让我们以 Tulip Mania 为例来了解泡沫的结构。

It wasn't long before the tulip became a nationwide sensation and tulip mania was born.

没过多久， 郁金香就轰动了全国，郁金香狂潮由此诞生。

And in many ways, if you look at the South Sea bubble, you look at the tulip mania.

在很多方面，如果你看看南海泡沫，你就会看到郁金香狂热。

From tulip manias to housing bubbles, economies, irrespective of their prowess, have often found themselves on the precipice of disaster.

从郁金香狂热到房地产泡沫，经济体无论实力如何，常常发现自己处于灾难的边缘。

One takeaway from Tulip Mania or other more recent bubbles is that prices are influenced by how much buyers are willing to pay.

从郁金香狂热或其他更近期的泡沫中得出的一个结论是，价格受买家愿意支付多少的影响。

Tulip mania is an effective illustration of the underlying principles at work in a bubble and can help us understand more recent examples like the real estate bubble of the late 2000s.

郁金香狂热有效地说明了泡沫中的基本原理，可以帮助我们理解更多最近的例子，例如 2000 年代后期的房地产泡沫。