One of the First Financial Scams in History: Tulip Crisis
Would you sell your house to buy a tulip? Some people almost did that
Financial scams are some of the most powerful frauds ever. They can throw the entire country or worse even the world in turmoil. We frequently hear of a financial scandal breaking families and burning holes into people’s pockets. We hear how prices have plummeted or sometimes broken through the roof and how people have lost jobs.
As a student of Commerce, we learn about business ethics and all the new laws and governance codes enforced on businesses yet the scandals just keep cropping up like annoying website pop-up ads.
‘Money is the root cause of all evil,’ isn’t it? Fascinatingly so, this has been the case ever since money was invented.
Paper money was a method of currency. Soon this was not enough. People wanted to make their money grow for them without having to slog for it. And this idea has stuck in human minds till date.
Whenever someone mentions dictators, Hitler with his hand raised, standing on a platform amidst multiple soldiers in a military uniform comes to mind. Thinking about it, Stalin too is famously remembered in his crisp uniform.
That leads us to this pertinent question- Why, why do dictators wear uniforms?
“India is a place beyond all others” said one of the 19th century’s most famous poets and native of India, Rudyard Kipling. From antiquity to present has India been a place of unfathomable wealth, a land of maharajas, nizams, sultans, and warrior princes, a crucible of faith and empire which had often attracted both the commerce and conquest of foreign powers such as the Mughals, Timurids, French, and English. At the heart of this wealth and struggle for political order were the Hindu, Muslim, and Sikh rulers, who descending from age old dynasties were among the most opulent and extravagant rulers in history. They built palaces of heavenly beauty, hosted the grandest of processions such as the Delhi Durbar, and were noted for their fortunes that would make even the gods envious. Thus when one sees a photo or listens to a story about them it is hard not to be struck with awe, yet their legacy today is also one of great controversy, for to secure their power often did they submit to and aid in the foreign occupation of India. For this when India achieved independence in 1947, within a decade did everyone of these centuries old monarchies crumble.
4 Monuments That Are Symbols of Love Love is of multiple types and these four monuments celebrate it in its different forms This February as we celebrate love, it is but obvious that we must talk about those monuments that symbolise eternal love. You must have pictured the Taj Mahal as the ultimate symbol of […]
5 Movies Based on Jane Austen’s Novels The internet is cluttered with movies based on novels by Jane Austen, which ones are worth watching? Check out my list Jane Austen has won hearts of many generations with her works. Her strong female leads were groundbreaking for her time. Although Jane Austen herself never got her […]
Rajabai Tower Mystery Two young girls fell to their deaths from the tower and the case was never really solved. Here are some of the details It was a lazy April afternoon in Bombay 1891. The city was vibrant yet luxurious. Students were busying studying for their upcoming exams as is the case with April. […]
How To Build Your Own Castle 5 easy steps to creating your own castle Spending time with 6 year olds did do me good, you should try it too. Last Sunday I attended a programme ‘What Makes A Palace.’ Unbeknownst to me, this session was for 6-14 year old children. Since I had already paid […]