Colorado Fuel—Gen. Northwestern Telegraph—7s. Gas Co.. Edison ElbO. Valley Coal — g. South Yuba water Co. Equit, G. Sunday Creek Coal 1st g 6s.. Equitable G. Henderson Bridge—1st g. Western Union Teleg. Unlisted Bonds. Man hat. Beach H. Comstock Tunnel—Inc. Bank Stock List—Latest prices this week. Ex Ninth J A P R IL 13, Active Stocks. Saturday, A pril 6. H Indicates unlisted. A ich. F e Boston.
P hil. P hila. P h ila. B oston. Telephone B oston. K P hila. Preferred fi H aven Nesqueboning V a l. North Am erican C o.. N orth P ennsylvania. W est Jersey P referred If. T am arack M in in g W estingh. P esi. Friday, A pril Sales o f the Week, Shares. Prices o f A p ril C onnecticut R iv e r. C onsol. T ra ct. I ABk. Boston United Gas, 2d m.
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Ohio, 4 4 g Crosstown, 1st,5s. Tract, o f N. Newark Passenger, con. Gas, 6 S Closing Range sales in 18 Closing Range sales in R ailroad and Miscel. Perioc A p r. H igh est ond s. Cairo Ark. Central—D ebt e x t. D eben. A Harlem , 7s, reg. W est Shore, guar. E levated—7 s Convertible 5 s N orf.
Pacific—1st, coup. General, 3d, coup. Consol, m ortgage, 5 g Gas L. P acific Ter. Ohio A Miss. I Feb. Ohio Southern—1st, 6 g. Louis—4 g O regonIm pr. Penm Co. A E vansv. E vansv. D ivision, 6 g. E xtension and eoi. P ittsburg 80 Apr. R ioG r. Western—1st, 4 g. Island—6 g.. General m ortgage, 6 g..
M ontana E xten sion, 4 g. P acific, Aria. Pacific, Cal. Paoiflo, N. Kings Go. E lev. Jam 71 Jan. Q -F 93k Laclede Gas. G eorgia Pao. K n oxv. A Ohio 1st 6s, g.
The Origins of the Poor Law
A O Tenn. G eneral m ortgage, 4 g.. A Nash. Jam Nash. A Kan. K entucky C en tral—4 g. Union Paoiflo—6 g Louis, St. M etro. H k Jam 64 Jan. Wabash—1st, 5 g , A T exas. Urn TeL—CoL tr. K 3d, 7S Stock, Exchange Prices. Louis W. A Pitts. Baltim ore A Ohio— Gen. A lb a tuna Mid. Lorn—1st, 6s. R oeh. A P itts. A W est. Cen A Pen. Worth A R. A San Ant. A Nor. A Fla. B ailw ay Cal. W est. B iver—1st, Bridge—1st, s. F alls A Minn. A Spr. A Indiana Coal—1st 5 s.
Peoria A Pek. Union—1st, 6s. A Iow a. A Tol. E xtension, 7 s A W est—M. A Ariz. A West. A Omaha—1st, 5 s.. A Car. A Minn. Louis So. A Milwaukee—1st, 7 s. F —2d 6 s,g. Shore Br. E vans. City A S. AN ash. Paul A Duluth—1 st,5 s. Louis Division, 1st, 6 s Paul Minn A M. A Decatur—1st, 7 M inneap. A Col.
- How Did Hummanity Became Enslaved by Money.
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- Full text of "Dewey decimal classification and relative index"!
- George Boyer, Cornell University.
A 2d 6s. Tenn lien, 7s A Char. A Green.
April 13, 1895, Vol. 60, No. 1555
International—1st, 4 s,g. A Dan. A, 6s. A Ind. Lorain A Wh. M—ls to. A Cad. A W aco—1st, 5s, g u. July Metropol. M ,-A rk. Bay C. A Cairo— guar ChatVA St. A Rom e—2d, 5 s,g. A Put. A Northern—1st, g. A Mex. A unio. V ernon 1st 6 s Paul A N. A Indian. Cent, incom e 5 s W ashington—lst. The following table shows the gross earniogs of United States railroads and also a few Mexican and Canadian roads for the latest period reported. The statement includes every road from which regular weekly or monthly returns can be obtained.
Latest E arnings Reported. W eekor Mo A diron dack M idla n d A llegheny V a l.. M idland.. East Lines February. W estern Lines F e b ru a ry. M arch B rooklyn E le v.. CanadianPaoiflc ls t w k Apr C ar. Central o f N. Central Pacific.. C har. C heraw. C hio. M ioh 4th w k Mch Oin.
Ja ck. Erlanger Syst. L 4th w k Mch Peo. CL Lor. C rystal D env. E lgin. Eureka Springs December. F itchburg F ebru ary. G eorgia R R Ithw kM ch G a. Louis Ithw kM ch Cin. Wk Apr. Wk Meh23 Det. M ontana Cent. Tex M arch Illinois Ceniral. A Beat. Erie A ll. L on g Island M anistique N ational. Nevada Central. J anuary New Orl. S usq. Ohio R iv er Ohio Southern. Oregon Im p. R December. M a rch. Quincy O. Rio Gr. H 4thwkM ch St. P January Pacific Co. A tlantic sys. Pacific system January Total o f all.
M January Southern R y I S 61, Week or Mo Rio Grande W estern Louis Alt. Sherman Shreve. U nion Pac. Western N. At Ohio Cent. C - 4thwkM ch 80, 49,50 52, N January Erie 1st w k A pr , Mch. A Ten. A full a h a lf interest. Buffalo' Roch. Canadian P acific Chicago Milw. Paul Chic. Denver At Rio G ran d e Grand Trunk o f Canada.. Iow a Central Lake Erie At W e ste r n M exioan National Central B ranch P eoria Dec. Louis Southwestern..
T oledo At Ohio C en tral W heeling At Lake E r ie T otal 35 road s At North. Chicago Great Western.. Shore At A tl Evansv. At Terre H a u te.. Flint At P ere M arquette. Worth At Denv. W orth At Rio Grande. Grand R apids At Indiana. Cincinnati R. Indiana D ecatur At W est. City Mem. At B irm.. Jan i. F et 22, 10, 11, 40, Jan. F eb 77, 20, def. J a n , 23, 17, 6, 7, T exas At N. M ar, 29, 84, 75, 33, Jan.
Interest Charges and Surplus. Flint At P ere M a rq The report of Mr. Frank Trumbull, the receiver, contiins in brief the following: General R esu lts. Prior to Oct. The Union Pacific receivers were absolved by the United States Circuit Court in March, , from the performance of this contract and a new basis of divisions was agreed upon, which was made retroactive to Dec. Colorado Central coupons due Jan. There were in default Dec. P h ysica l C ha ra cteristics. There are 55 m iles o f narrow gauge laid with 40 p ound steel 35 miles and pound iron.
E quipm ent Dee. They in clu d e : Iron and steel bridges, 15; com bination H ow e truss, 17; fram e trestle bridges, 81; pile and fram e, 64; pile, 1,; total number o f openings, 1, Grades and Curvatures. M aintenance. The num ber o f cross-ties laid during was ,, and the estim ated requirem ent fo r is , The roadbed itself has been w ell maintained, and in many respects aotually im proved during the year.
The condition o f engines and cars has been w ell maiutalned. C om pa n y's P rosp ects. These fields are the best established o f their kind in Colorado. The coa l traffic o f the road is very large and cannot fail to becom e m ore im portant from year to year. The po tato business o f Northern C olorado has this season assumed greater im portance than ever before.
Traffic via tne G ulf o f Mexioo from the A tla u iio seaboard has been very satisfactory during the year and is increasing. Louis [V ol, LX. G uaranty accoun t Louis Railway. The annual report of President Roberts and an editorial on the operations of the year will be found. Expenses — T ra n sp orta tion General ex p en ses.. Disbursements— Interest on b o n d s Rentals p aid Oar trusts line, int.
Net rev. M iscellaneous L iabilities- Cin. Street Ry. Conn, bonds. Due Little M ia m i Due other com pa nies.
Profit and loss, balance. A pril 13 Receipts— N etearn in gs Even non—narrative and presumably dispassionate, systematic evidence — legal and governmental documents, ecclesiastical records, commercial archives — presents challenges. With a paucity of censuses, estimates of population and tracing of demographic trends have often relied on indirect indicators of demographic change e. To compensate for these imperfections, the demographer relies on potentially debatable assumptions about the size of the medieval household, the representativeness of a discrete group of people, the density of settlement in an undocumented region, the level of tax evasion, and so forth.
A bewildering array of estimates for mortality from the plague of —53 is the result. The first outbreak of the Black Death indisputably was the deadliest but the death rate varied widely according to place and social stratum. National estimates of mortality for England, where the evidence is fullest, range from five percent, to The picture for the continent likewise is varied.
Regional mortality in Languedoc France was forty to fifty percent while sixty to eighty percent of Tuscans Italy perished. Urban death rates were mostly higher but no less disparate, e. The Black Death was often highly arbitrary in how it killed in a narrow locale, which no doubt broadened the spectrum of mortality rates. Credible death rates between one quarter and three quarters complicate reaching a Europe—wide figure.
Neither a casual and unscientific averaging of available estimates to arrive at a probably misleading composite death rate nor a timid placing of mortality somewhere between one and two thirds is especially illuminating. Since the early s demographers have found higher levels of mortality plausible and European mortality of one half is considered defensible, a figure not too distant from less fanciful contemporary observations.
While the Black Death of —53 inflicted demographic carnage, had it been an isolated event European population might have recovered to its former level in a generation or two and its economic impact would have been moderate. When both national and local epidemics are taken into account, England endured thirty plague years between and , a pattern mirrored on the continent, where Perugia was struck nineteen times and Hamburg, Cologne, and Nuremburg at least ten times each in the fifteenth century. Who perished was equally significant as how many; in other words, the structure of mortality influenced the time and rate of demographic recovery.
If this preference for youth reflected natural resistance to the disease among plague survivors, the Black Death may have ultimately resembled a lower—mortality childhood disease, a reality that magnified both its demographic and psychological impact. The Black Death pushed Europe into a long—term demographic trough. Notwithstanding anecdotal reports of nearly universal pregnancy of women in the wake of the magna pestilencia , demographic stagnancy characterized the rest of the Middle Ages.
Population growth recommenced at different times in different places but rarely earlier than the second half of the fifteenth century and in many places not until c. It arrived near the close of an ebullient high Middle Ages c. The Black Death simultaneously portended an economically stagnant, depressed late Middle Ages c. Cognizant of a qualitative difference between the high and late Middle Ages, students of medieval economy have offered varied explanations, some mutually exclusive, others not, some favoring the less dramatic, less visible, yet inexorable factor as an agent of change rather than a catastrophic demographic shift.
For some, a cooling climate undercut agricultural productivity, a downturn that rippled throughout the predominantly agrarian economy. For others, exploitative political, social, and economic institutions enriched an idle elite and deprived working society of wherewithal and incentive to be innovative and productive.
Yet others associate monetary factors with the fourteenth— and fifteenth—century economic doldrums. The particular concerns of the twentieth century unsurprisingly induced some scholars to view the medieval economy through a Malthusian lens. Rising impoverishment and contracting holdings compelled the peasant to cultivate inferior, low—fertility land and to convert pasture to arable production and thereby inevitably reduce numbers of livestock and make manure for fertilizer scarcer. Boosting gross productivity in the immediate term yet driving yields of grain downward in the longer term exacerbated the imbalance between population and food supply; redressing the imbalance became inevitable.
A more potent correction came with subsistence crises. Poor harvests, moreover, bedeviled England and Italy to the eve of the Black Death. In other words, socioeconomic changes already driven by other causes would have occurred anyway, merely more slowly, had the plague never struck Europe. Recent scrutiny of the Malthusian analysis, especially studies of agriculture in source—rich eastern England, has, however, rehabilitated the Black Death as an agent of socioeconomic change. A village struck by the plague underwent a profound though brief disordering of the rhythm of daily life.
Before the plague, rising population had kept wages low and rents and prices high, an economic reality advantageous to the lord in dealing with the peasant and inclining many a peasant to cleave to demeaning yet secure dependent tenure. Wages in England rose from twelve to twenty—eight percent from the s to the s and twenty to forty percent from the s to the s. Immediate hikes were sometimes more drastic. During the plague year —49 at Fornham All Saints Suffolk , the lord paid the pre—plague rate of 3d.
The reaper, moreover, enjoyed more and larger tips in cash and perquisites in kind to supplement the wage. At Cuxham Oxfordshire , a plowman making 2s. In some instances, the initial hikes in nominal or cash wages subsided in the years further out from the plague and any benefit they conferred on the wage laborer was for a time undercut by another economic change fostered by the plague.
Grave mortality ensured that the European supply of currency in gold and silver increased on a per—capita basis, which in turned unleashed substantial inflation in prices that did not subside in England until the mid—s and even later in many places on the continent. The inflation reduced the purchasing power real wage of the wage laborer so significantly that, even with higher cash wages, his earnings either bought him no more or often substantially less than before the magna pestilencia Munro, ; Aberth, The lord, however, was confronted not only by the roving wage laborer on whom he relied for occasional and labor—intensive seasonal tasks but also by the peasant bound to the soil who exchanged customary labor services, rent, and dues for holding land from the lord.
A pool of labor services greatly reduced by the Black Death enabled the servile peasant to bargain for less onerous responsibilities and better conditions. At Tivetshall Norfolk , vacant holdings deprived its lord of sixty percent of his week—work and all his winnowing services by — A fifth of winter and summer week—work and a third of reaping services vanished at Redgrave Suffolk in —50 due to the magna pestilencia.
If a lord did not make concessions, a peasant often gravitated toward any better circumstance beckoning elsewhere. At Redgrave, for instance, the loss of services in —50 directly due to the plague was followed in —51 by an equally damaging wave of holdings abandoned by surviving tenants. For the medieval peasant, never so tightly bound to the manor as once imagined, the Black Death nonetheless fostered far greater rural mobility.
Faced with these disorienting circumstances, the lord often ultimately had to decide how or even whether the pre—plague status quo could be reestablished on his estate. Not capitalistic in the sense of maximizing productivity for reinvestment of profits to enjoy yet more lucrative future returns, the medieval lord nonetheless valued stable income sufficient for aristocratic ostentation and consumption. A recalcitrant peasantry, diminished dues and services, and climbing wages undermined the material foundation of the noble lifestyle, jostled the aristocratic sense of proper social hierarchy, and invited a response.
In exceptional circumstances, a lord sometimes kept the peasant bound to the land. Because the nobility in Spanish Catalonia had already tightened control of the peasantry before the Black Death, because underdeveloped commercial agriculture provided the peasantry narrow options, and because the labor—intensive demesne agriculture common elsewhere was largely absent, the Catalan lord through a mix of coercion physical intimidation, exorbitant fees to purchase freedom and concession reduced rents, conversion of servile dues to less humiliating fixed cash payments kept the Catalan peasant in place.
In England and elsewhere on the continent, where labor services were needed to till the demesne, such a conservative approach was less feasible. This, however, did not deter some lords from trying. The lord of Halesowen Worcestershire not only commanded the servile tenant to perform the full range of services but also resuscitated labor obligations in abeyance long before the Black Death, tantamount to an unwillingness to acknowledge anything had changed Freedman, ; Razi, Perhaps only in England, where effective government permitted robust enforcement, did the law slow wage increases for a time Aberth, ; Gottfried, ; Hunt and Murray, ; Cohn, Once knee—jerk conservatism and legislative palliatives failed to revivify pre—plague socioeconomic arrangements, the lord cast about for a modus vivendi in a new world of abundant land and scarce labor.
Despite mortality and flight, the abbot by and large achieved his goal by the mid—s. With this core of labor solidified, the focus turned to preserving the most essential labor services, especially those associated with the labor—intensive harvesting season. Less vital labor services were commuted for cash payments and ad hoc wage labor then hired to fill gaps.
The cultivation of the demesne continued, though not on the pre—plague scale. For a time in fact circumstances helped the lord continue direct management of the demesne. The general inflation of the quarter—century following the plague as well as poor harvests in the s and s boosted grain prices and partially compensated for more expensive labor.
Recurrences of the plague, moreover, placed further stress on new managerial policies. Under unremitting pressure, the traditional cultivation of the demesne ceased to be viable for lord after lord: a centuries—old manorial system gradually unraveled and the nature of agriculture was transformed. The Beyond reducing the demesne to a size commensurate with available labor, the lord could explore types of husbandry less labor—intensive than traditional grain agriculture.
Greater domestic manufacture of woolen cloth and growing demand for meat enabled many English lords to reduce arable production in favor of sheep—raising, which required far less labor. Livestock husbandry likewise became more significant on the continent. Suitable climate, soil, and markets made grapes, olives, apples, pears, vegetables, hops, hemp, flax, silk, and dye—stuffs attractive alternatives to grain.
In hope of selling these cash crops, rural agriculture became more attuned to urban demand and urban businessmen and investors more intimately involved in what and how much of it was grown in the countryside Gottfried, ; Hunt and Murray, The lord also looked to reduce losses from demesne acreage no longer under the plow and from the vacant holdings of onetime tenants.
Measures adopted to achieve this end initiated a process that gained momentum with each passing year until the face of the countryside was transformed and manorialism was dead. The English landlord, hopeful for a return to the pre—plague regime, initially granted brief terminal leases of four to six years at fixed rates for bits of demesne and for vacant dependent holdings. Leases over time lengthened to ten, twenty, thirty years, or even a lifetime. The rising popularity of this expedient made direct management of demesne by lord rare by c.
The lord often became a rentier bound to a fixed income. The tenurial transformation was completed when the lord sold to the peasant his right of lordship, a surrender to the peasant of outright possession of his holding for a fixed cash rent and freedom from dues and services. Manorialism, in effect, collapsed and was gone from western and central Europe by Lower prices for foodstuffs and greater purchasing power from the last quarter of the fourteenth century onward, progressive disintegration of demesnes, and waning customary land tenure enabled the enterprising, ambitious peasant to lease or purchase property and become a substantial landed proprietor.
The average size of the peasant holding grew in the late Middle Ages. Freed from labor service, holding a fixed copyhold lease, and enjoying greater disposable income, the peasant exploited his land exclusively for his personal benefit and often pursued leisure and some of the finer things in life.
The Black Death, moreover, profoundly altered the contours of settlement in the countryside. Catastrophic loss of population led to abandonment of less attractive fields, contraction of existing settlements, and even wholesale desertion of villages. More than English villages vanished between and French and Dutch villagers abandoned isolated farmsteads and huddled in smaller villages while their Italian counterparts vacated remote settlements and shunned less desirable fields. The German countryside was mottled with abandoned settlements.
Two thirds of named villages disappeared in Thuringia, Anhalt, and the eastern Harz mountains, one fifth in southwestern Germany, and one third in the Rhenish palatinate, abandonment far exceeding loss of population and possibly arising from migration from smaller to larger villages Gottfried, ; Pounds, The vibrancy of the high medieval economy is generally conceded. As the first millennium gave way to the second, urban life revived, trade and manufacturing flourished, merchant and craft gilds emerged, commercial and financial innovations proliferated e.
The integration of the high medieval economy reached its zenith c. How to characterize the late medieval economy has been more fraught with controversy, however. Historians a century past, uncomprehending of how their modern world could be rooted in a retrograde economy, imagined an entrepreneurially creative and expansive late medieval economy. Success or failure was equally possible after the Black Death and the game favored adaptability, creativity, nimbleness, opportunism, and foresight.
Once the magna pestilencia had passed, the city had to cope with a labor supply even more greatly decimated than in the countryside due to a generally higher urban death rate. The city, however, could reverse some of this damage by attracting, as it had for centuries, new workers from the countryside, a phenomenon that deepened the crisis for the manorial lord and contributed to changes in rural settlement. A resurgence of the slave trade occurred in the Mediterranean, especially in Italy, where the female slave from Asia or Africa entered domestic service in the city and the male slave toiled in the countryside.
Finding more labor was not, however, a panacea. A peasant or slave performed an unskilled task adequately but could not necessarily replace a skilled laborer. The gross loss of talent due to the plague caused a decline in per capita productivity by skilled labor remediable only by time and training Hunt and Murray, ; Miskimin, Another immediate consequence of the Black Death was dislocation of the demand for goods.
A suddenly and sharply smaller population ensured a glut of manufactured and trade goods, whose prices plummeted for a time. The Black Death transformed the structure of demand as well. While the standard of living of the peasant improved, chronically low prices for grain and other agricultural products from the late fourteenth century may have deprived the peasant of the additional income to purchase enough manufactured or trade items to fill the hole in commercial demand. In the city, however, the plague concentrated wealth, often substantial family fortunes, in fewer and often younger hands, a circumstance that, when coupled with lower prices for grain, left greater per capita disposable income.
Pessimism and the specter of death spurred an individualistic pursuit of pleasure, a hedonism that manifested itself in the purchase of luxuries, especially in Italy. Even with a reduced population, the gross volume of luxury goods manufactured and sold rose, a pattern of consumption that endured even after the extra income had been spent within a generation or so after the magna pestilencia. Like the manorial lord, the affluent urban bourgeois sometimes employed structural impediments to block the ambitious parvenu from joining his ranks and becoming a competitor. A tendency toward limiting the status of gild master to the son or son—in—law of a sitting master, evident in the first half of the fourteenth century, gained further impetus after the Black Death.
Women also were banished from gilds as unwanted competition. The urban wage laborer, by and large controlled by the gilds, was denied membership and had no access to urban structures of power, a potent source of frustration. While these measures may have permitted the bourgeois to hold his ground for a time, the winds of change were blowing in the city as well as the countryside and gild monopolies and gild restrictions were fraying by the close of the Middle Ages.
In the new climate created by the Black Death, the individual businessman did retain an advantage: the business judgment and techniques honed during the high Middle Ages. This was crucial in a contracting economy in which gross productivity never attained its high medieval peak and in which the prevailing pattern was boom and bust on a roughly generational basis. A fluctuating economy demanded adaptability and the most successful post—plague businessman not merely weathered bad times but located opportunities within adversity and exploited them.
The successful post—plague businessman observed markets closely and responded to them while exercising strict control over his concern, looking for greater efficiency, and trimming costs Hunt and Murray, The fortunes of the textile industry, a trade singularly susceptible to contracting markets and rising wages, best underscores the importance of flexibility. Competition among textile manufacturers, already great even before the Black Death due to excess productive capacity, was magnified when England entered the market for low— and medium—quality woolen cloth after the magna pestilencia and was exporting forty—thousand pieces annually by The English took advantage of proximity to raw material, wool England itself produced, a pattern increasingly common in late medieval business.
Flemish producers that emphasized higher—grade, luxury textiles or that purchased, improved, and resold cheaper English cloth prospered while those that stubbornly competed head—to—head with the English in lower—quality woolens suffered. The Italians not only produced luxury woolens, improved their domestically—produced wool, found sources for wool outside England Spain , and increased production of linen but also produced silks and cottons, once only imported into Europe from the East Hunt and Murray, The new mentality of the successful post—plague businessman is exemplified by the Florentines Gregorio Dati and Buonaccorso Pitti and especially the celebrated merchant of Prato, Francesco di Marco Datini.
The large companies and super companies, some of which failed even before the Black Death, were not well suited to the post—plague commercial economy. Datini through voluminous correspondence with his business associates, subordinates, and agents and his conspicuously careful and regular accounting grasped the reins of his concern tightly.
He insulated himself from undue risk by never committing too heavily to any individual venture, by dividing cargoes among ships or by insuring them, by never lending money to notoriously uncreditworthy princes, and by remaining as apolitical as he could. His energy and drive to complete every business venture likewise served him well and made him an exemplar for commercial success in a challenging era Origo, ; Hunt and Murray, The late medieval popular uprising, a phenomenon with undeniable economic ramifications, is often linked with the demographic, cultural, social, and economic reshuffling caused by the Black Death; however, the connection between pestilence and revolt is neither exclusive nor linear.
Any single uprising is rarely susceptible to a single—cause analysis and just as rarely was a single socioeconomic interest group the fomenter of disorder. The outbreak of rebellion in the first half of the fourteenth century e. Some explanations for popular uprising, such as the placing of immediate stresses on the populace and the cumulative effect of centuries of oppression by manorial lords, are now largely dismissed. At times of greatest stress —— the Great Famine and the Black Death —— disorder but no large—scale, organized uprising materialized.
After the Black Death, change was inevitable and apparent to all. The reasons for any individual rebellion were complex. The regressive Poll Taxes of and also contributed to the discontent. It is furthermore noteworthy that the rebellion began in relatively affluent eastern England, not in the poorer west or north. Once the value of the penny was restored to its former level in the rebellion in fact subsided. In sum, the Black Death played some role in each uprising but, as with many medieval phenomena, it is difficult to gauge its importance relative to other causes.
Nursing Staff in Hospitals and Nursing Homes: Is It Adequate?
The rebellions in any event achieved little. Promises made to the rebels were invariably broken and brutal reprisals often followed. The lot of the lower socioeconomic strata was improved incrementally by the larger economic changes already at work. The European economy at the close of the Middle Ages c. In the countryside, a freer peasant derived greater material benefit from his toil.
Fixed rents if not outright ownership of land had largely displaced customary dues and services and, despite low grain prices, the peasant more readily fed himself and his family from his own land and produced a surplus for the market. Yields improved as reduced population permitted a greater focus on fertile lands and more frequent fallowing, a beneficial phenomenon for the peasant. More pronounced socioeconomic gradations developed among peasants as some, especially more prosperous ones, exploited the changed circumstances, especially the availability of land.
As the Middle Ages waned, the lord was commonly a pure rentier whose income was subject to the depredations of inflation. In trade and manufacturing, the relative ease of success during the high Middle Ages gave way to greater competition, which rewarded better business practices and leaner, meaner, and more efficient concerns.
Greater sensitivity to the market and the cutting of costs ultimately rewarded the European consumer with a wider range of good at better prices. In the long term, the demographic restructuring caused by the Black Death perhaps fostered the possibility of new economic growth. In this environment, survivors also benefited from the technological and commercial skills developed during the course of the high Middle Ages. Viewed from another perspective, the Black Death was a cataclysmic event and retrenchment was inevitable, but it ultimately diminished economic impediments and opened new opportunity.
Aberth, John. New York: Routledge, Aston, T. Philpin, eds. Bailey, Mark D. A Marginal Economy? Benedictow, Ole J. Woodbridge, Suffolk: Boydell Press, Bleukx, Koenraad. England as a Case Study. Pars Posterior: Cultura Medievalis , edited by W. Verbeke, M. Haverals, R. Goossens, 64— Leuven: Leuven University Press, Blockmans, Willem P. Bolton, Jim L. Ormrod and P. Stamford: Paul Watkins, Bowsky, William M. Campbell, Bruce M. Cipolla, Carlo M. New York: Norton, Cohn, Samuel K.
London: Edward Arnold, Cohn, Sameul K. Davis, David E. Davis, R. Dyer, Christopher. Emery, Richard W. Farmer, David L. II, edited H. Hallam, — Farmer, D. III, edited E. Miller, — Flinn, Michael W. Freedman, Paul. Gottfried, Robert. New York: Free Press, Gyug, Richard. Harvey, Barbara F. Harvey, P. A Medieval Oxfordshire Village: Cuxham, — London: Oxford University Press, Hatcher, John. Hatcher, John and Mark Bailey. Plague, Population, and the English Economy — Herlihy, David. Cambridge and London: Cambridge University Press, Horrox, Rosemary, transl.
The Black Death. Hunt, Edwin S. A History of Business in Medieval Europe, — Jordan, William C. Lerner, Robert E. Ithaca: Cornell University Press, Le Roy Ladurie, Emmanuel. The Peasants of Languedoc , transl. Urbana: University of Illinois Press, Lomas, Richard A. Miskimin, Harry A. The Economy of the Early Renaissance, — Munro, John H. Boston: David R. Godine, , Platt, Colin. Toronto: University of Toronto Press, Poos, Lawrence R.
Postan, Michael M. Harmondswworth, Middlesex: Penguin, Russell, Josiah C. British Medieval Population. Albuquerque: University of New Mexico Press, Scott, Susan and Christopher J. Shrewsbury, John F. London: Batsford Academic and Educational, Waugh, Scott L. Citation: Routt, David.
July 20, London: Routledge. Reviewed for EH. This is the kind of book that ought to make the history of economic thought an essential part in the education of any economist. It adds depth to what you think you know already, adds in much you may not have known before, and makes you think about economic theory in a different way, deepening your understanding of how economies work. Evert Schoorl? It thus discusses the life of one of the most influential economists who has ever lived and whose work still has much to offer to both economists and historians of thought.
Even when you thought you knew who he was, the context of his writings and what he stood for, unless you really had done the work, large slices of what really matters are unlikely ever to have become known to you. Start with this. If you know anything about Say then you know he was an entrepreneur. The conclusion I had always drawn from this was that he was in the mold of David Ricardo, someone whose work in the business world carved out a life of prosperity in which he could indulge his economic pursuits.
Instead, Say ran a succession of businesses in which the continual problems that every entrepreneur must expect to face were the problems he faced himself. Each of the businesses he engaged in were difficult and none succeeded into the long term. Indeed, until well past middle age, and continuing almost until the last years of his life, he was in a continual struggle to maintain an adequate personal income, and while he was still running his businesses it was a constant struggle to keep his businesses afloat. And rather than the secure foundation a rich industrialist might have been expected to have, his was a life of great personal financial insecurity where every franc he earned counted.
As Schoorl points out,? It is an incredible part of the story finding just how difficult Say? Thus, the story of his standing up to Napoleon at the height of his powers makes Say? Who else are you aware of who has a personal history that includes anything like the following kind of event, let alone by someone who faced relentless financial insecurity almost to the end of his days? When the Trait? Nevertheless he was offered a tax collectorship …? Say himself later in life described this moment. And in reading this passage, it is well to remember that according to Schoorl Say? During my period as Tribun, not wanting to deliver orations in favour of the usurper, and not having the permission to speak against him, I drafted and published my Trait?
Economie Politique. Bonaparte commanded me to attend him and offered me 40 thousand francs a year to write in favour of his opinion; I refused, and was caught up in the purge of ? This is near superhuman. But it? And it is also the kind of detail that makes this such a compelling biography. There really was a life about which a story was there to be told and most certainly it is that story Schoorl has now indeed told and told very well.
But this is an intellectual biography as well, which inevitably includes a discussion of Say? Therefore, I am compelled to note that Schoorl has brought me into the story but should you be concerned that my positive review is in return for his own positive discussion of my own work, let me first note this: where Schoorl has written? Well I might dispute this, but not here; all is forgiven since what we find is the most judicious short discussion of two centuries of debate over the law of markets to be found anywhere, with myself found at the extreme end of the pro-Say spectrum, which I fear is actually the case.
Law I will say only this. There is firstly the principle that demand is constituted by supply, that goods buy goods. That is from Say and the physiocrats. And then there is the question whether an economy can suffer from demand deficiency. That is the issue that has remained controversial to this day but has its origins in James Mill who in explaining in why too little demand was never the cause of recessions brought forward as part of his argument a passage he had found in Say.
That Say accepted this point is clearly shown in his Letters to Mr. Malthus published in during the general glut debate after Malthus? These were not, however, the only controversies Say found himself in the midst of, with his discussion with Ricardo and others over the theory of value possibly the most important in terms of the history of economic theory.
But other issues were important in their own time with the question surrounding whether slavery was a profitable basis for an economy of immediate practical interest. Whether Say thought it was or it wasn? Evert Schoorl has told an exceptionally important story in an exceptionally interesting way. The person who emerges is the same person described by John Stuart Mill who had met Say in ? And so he was? His own most recent book is Defending the History of Economic Thought Edward Elgar , which is, so far as he knows, the first book ever written on this subject.
Copyright c by EH. All rights reserved. This work may be copied for non-profit educational uses if proper credit is given to the author and the list. For other permission, please contact the EH. Net Administrator administrator eh. Published by EH. Net August All EH. Net July ? New York: Palgrave Macmillan, Donald Rutherford? The book is an important contribution to the literature on Smith, on the history of economic thought, on Scotland? Smith is generally such an immense figure that we may be tempted to think of him as the only voice of eighteenth century Scotland as far as economics is concerned.
Attempts to moderate Smith? Rutherford offers us the context in which Smith? He offers us insight into the wide economic knowledge that Smith used or did not use , added to or not , and of which he is just a part. Thnkx cheap air jordans. There is certainly noticeably a bundle to know about this. I assume you produced particular nice points in capabilities also. I discovered your weblog webpage on google and check a few of your early posts. Continue to keep up the incredibly fantastic operate. Seeking forward to reading additional from you later on!
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