[nologic01]

There seems to be currency with debunking tulipmania but reading this [1] it seems people play more with the semantics, i.e., what kind of market behavior do you admit into the "manic class" as opposed to the "rational calculation class".

Expecting others to enter a bubble and trading accordingly can be a perfectly rational calculation following observations of behaviors in a given market context.

[1] https://theconversation.com/tulip-mania-the-classic-story-of...