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Old Problems, New Approaches

Dados Bibliográficos

ID23583271
AutoresMark Bailey (0000-0002-8957-2405, autor correspondente)
Ano2021
Páginas24-68
Data de publicação2021-02-11
Peer ReviewedSim
Open AccessNão
TipoCHAPTER
PeriódicoAfter the Black Death (SOURCE_BOOK)
EditoraOxford University PressOxford (PUBLISHER)
DOI10.1093/oso/9780198857884.003.0002
OpenAlexW3132047222
ISBN9780198857884
IdiomaEN
Referências citadas247

There is no dispute that on the eve of the Black Death England was gripped by a severe crisis, characterized by high population pressure, extreme poverty, and a petering out of economic growth. Its economic performance meant it was a laggard by European standards. The reasons for this crisis and modest performance, however, are subjects of dispute. Conventional interpretations stress the power of manorial (i.e. ‘feudal’) lordship in England, which extracted most peasant surpluses, inhibited the development of markets, and exercised control over what markets did exist. This chapter draws together the wealth of recent research to reconstruct the size and institutional structure of the main factor and commodity markets on the eve of plague. It shows that markets in land, labour, basic commodities, and capital were larger than conventionally depicted, and lords had largely lost control over their operation. Custom and the nascent legal system discouraged arbitrary seigniorial behaviour, and the growth of the common law resulted in a framework of private courts throughout England providing accessible and cheap remedies for dispute resolution and contract enforcement. This encouraged participation in factor markets at all levels of society and promoted a pervasive legal culture based upon respect for standardized processes and precedents. However, this peculiar institutional mosaic proved to be deleterious to the welfare of the vast majority of the populace under the pressure of high population, because it resulted in the fragmentation of landholdings, low real wages, and a high proportion of landless. Climate change, taxation, and disease heightened their vulnerability, and exacerbated the pre-plague crisis.

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