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The resource curse, also known as the paradox of plenty or the poverty paradox, is the hypothesis that countries with an abundance of natural resources (such as fossil fuels and certain minerals) have lower economic growth, lower rates of democracy, or poorer development outcomes than countries with fewer natural resources. [1]
Before 1800, France was the most populated country in Europe, with a population of 17 million in 1400, 20 million in the 17th century, and 28 million in 1789. [ citation needed ] The 17th and 18th centuries saw a steady increase in urban populations, although France remained a profoundly rural country, with less than 10% of the population ...
Hesiod active 750 to 650 BC, a Boeotian who wrote the earliest known work concerning the basic origins of economic thought, contemporary with Homer. [3] Of the 828 verses in his poem Works and Days, the first 383 centered on the fundamental economic problem of scarce resources for the pursuit of numerous and abundant human ends and desires.
Much of this trade was with France, the Low Countries and Germany, but the North-East of England traded with partners as far away as Sweden. [36] Cloth was already being imported to England before the invasion through the mercery trade. [37] Some towns, such as York, suffered from Norman sacking during William's northern campaigns. [38]
The Great Famine (1315–1317), the Black Death (1347–1353), which diminished the European population by one third to one half, and the Hundred Years War (1337–1453) between England and France, that, amongst others, caused severe deforestation, and had dramatic influences in metallurgical industry and trade.
The Economics of English Mining in the Middle Ages is the economic history of English mining from the Norman invasion in 1066, to the death of Henry VII in 1509. England's economy was fundamentally agricultural throughout the period, but the mining of iron, tin, lead and silver, and later coal, played an important part within the English medieval economy.
The most common means of calculating yield was the number of seeds harvested compared to the number of seeds planted. On several manors in Sussex England, for example, the average yield for the years 1350–1399 was 4.34 seeds produced for each seed sown for wheat, 4.01 for barley, and 2.87 for oats. [53] (By contrast, wheat production in the ...
New World exports of wood, cotton, and wool are estimated to have saved England the need for 23 to 25 million acres (100,000 km 2) of cultivated land (by comparison, the total amount of cultivated land in England was just 17 million acres), freeing up immense amounts of resources. The New World also served as a market for European manufactures.