I wouldn't say that bubbles are rare at all, and it wouldn't surprise me if there were lots of them before 1637 that just aren't well recorded. The limited scope of trade in those days would mean that such events weren't as disruptive as they are today.
http://www.amazon.com/Manias-Panics-Crashes-Financial-Invest...
I wouldn't say that bubbles are rare at all, and it wouldn't surprise me if there were lots of them before 1637 that just aren't well recorded. The limited scope of trade in those days would mean that such events weren't as disruptive as they are today.