Thursday, August 18, 2011

Economic Crisis

Economy in Crisis
  • In the 1700s, good harvests had helped population growth and prosperity.
  • Bad harvests were a major event in 1788 as a result of a wet spring and freak hailstorms.
  • This led to unemployment.
  • Food price rises led to less demand for manufactured goods at a time when workers and farmers needed income.
  • The percentage of a labourer’s daily wage to pay for bread increased from 50% to 88%.
  • Textile industry output halved
  • Tithe owners and landowners were blamed for hoarding grain and causing price rises.
  • Food riots occurred


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