Showing posts from July, 2011

Effects of the "Price Revolution" and Elizabethan Policy

~~Certain industries, like woolens, get an artificial boost from Elizabeth's new direction in policy and treaty-making
~~Aristocrat estates are rented on long leases--not very responsive to rising costs or sudden changes in economic plans--noble class grows weaker and poorer (allowing the monarch to get more powerful)
~~Gentry and yeomen switch to short-term leases, more responsive to short-term market trends (like enclosing lands to pasture sheep when wool prices are strong and kicking peasants off the land, or growing new varieties of wheat and making a lot of money)
~~Gentry and yeomanry grow powerful, aristocrats struggle, poor grow dramatically poorer and more numerous--75% of population are living below the poverty line and crime sky-rockets
~~Poor Laws--for the poor to work (not a lot to do, work habits slacken) or indenture them if they won't do so willingly
~~Young men and women are looking for a new place to start
~~~~~> Elizabeth's eyes turn towards Ireland