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