• The Black Death in the Malthusian economy: A glimmer of wage growth in the Dark Ages

    9 days ago - By FRED

    If you're interested in economic history, does FRED have some data for you! The graph above features some of the oldest data in FRED: population in England and real wages in the United Kingdom, starting in 1086 and 1210, respectively. The big picture shows how dramatic the Industrial Revolution has been in lifting wages and sustaining a much larger population after centuries of stagnation. In fact, the growth has been so strong that we should have used logarithms in the graph (which we've recommended in this blog more than once for long time series). Today, though, we focus on a much...
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