• Age of Invention: The Century-Long Depression

    From Julian@julianlzb87@gmail.com to alt.buddha.short.fat.guy on Tue Aug 26 10:59:06 2025
    From Newsgroup: alt.buddha.short.fat.guy


    ThererCOs an old proverb about England, current in the sixteenth century,
    that it was a hell for horses, a paradise for women, and a purgatory or
    prison for servants. I still donrCOt quite know what to make of the first
    and second parts, but a few months ago I finally began to understand how England was a prison for servants. Compared to the world of work today,
    with all its occasional frustrations and boredoms, having to work for a
    wage in the four or so centuries c.1350-1750 was a dystopian nightmare,
    with England pursuing policies sometimes so absurdly and ambitiously oppressive that as I discovered more about them my jaw just kept on
    dropping.

    I believe their impact has been highly underrated, based on the belief
    that they werenrCOt regularly enforced. But the evidence, to me, suggests
    that they were on the whole adhered to, and so they would have hugely distorted the functioning of the English economy. I havenrCOt seen the
    full scale of the policies set out before in all their detail, and I
    think some important details have hitherto been missed or
    misinterpreted. So what follows is the long, appalling history of how
    England created its prison for servants, and of how this led to a
    century of economic depression.

    The prisonrCOs walls were first erected in the midst of the Black Death,
    when an estimated half of the English population was wiped out. As the
    plague still raged, in 1349 Edward III issued an emergency ordinance to
    try and contain the economic fallout. Even though half the population
    died, their gold and silver coins survived, so that there was suddenly
    twice as much coinage in circulation per head. And so one of the
    immediate effects was for the price of everything, including both goods
    and services, to rapidly rise. This rapid inflation, brought on as it
    was by so many people dying, inevitably led to higher wages being
    demanded for all kinds of work. rCLSeeing the necessity of masters and
    great scarcity of servantsrCY, the ordinance explained, workers now found themselves able to pick and choose who they worked for, and to hold out
    for much higher wages than before.

    But not if the government could help it....

    cont..
    https://www.ageofinvention.xyz/p/age-of-invention-the-century-long?
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