“The deaths of so many people speeded changes in Europe’s economic and social structure that contributed to the decline of feudalism. (Alavosus, 56). After the illness spread, there was a shift in power from nobles to the common people. The demand for workers was high and there were fewer workers due the high death rates. The workers who were still alive could demand more money and more rights.
The fall of Rome was mainly because of plagues wiping out most of the population. The fall of the Han dynasty began from decentralized rule. However, outside invasions had an effect on the fall of both classical civilizations. Series of plagues began to hit the Rome Empire by the 2nd century. These plagues lowered the population drastically.
Many of the serfs died, so the remaining ones demanded higher wages. More effects of the plague were, that the lack of customers started to drive down the prices of items in stores, this ended the crusades because all the soldiers had died. It weakened the church’s power because people started to question their faith, and everyone blamed the jews for it. Some long term effects were that wages increased, for there was a shortage in labor and land became more
The Black Death exterminated the population of Europe, interrupted the progress of science and intellectual effort, as well as lead in a new age of pessimism. Europe would not get back up from that tragedy until centuries later. One to two third of the European’s population was destroyed during the Black Death. Deep economic changes turned up.
The parasite that carried the illness was brought to Europe when traders came to exchange their good with Europeans. This in effect started the problem with trade and trickling down to the economy. According to Stuart Borsch (2005), between 1086-1300 the Black Death brought one of the most significant changes in economy and lifestyle. The wealthy landowners had to bargain with the workforce on a case by case and person by person basis rather than one agreement for the whole workforce. This made it more profitable for the workers and less profitable for the landowners, which caused some change in the wealth structure.
The Great Depression was a period of severe economic recession that flogged the American people. It was primarily caused by the overproduction of goods and the massive unequal distribution of wealth. America during the years leading up to the depression had an abundance of production coming off the recent World War, but since wages hadn’t increased, no one was able to buy the products. Also, by 1927, nearly forty percent of all the nations wealth was controlled by the top five percent, and this caused an extremely unstable economy. Similarly, the failure of the Hawley-Smoot Tariff and the closing of banks were both minor causes of the Great Depression.
One drastic consequence was that the land available for cultivation decreased insanely due to the death of laborers who died because of the plague and this consequence lasted a long period of time. The plague also brought as a consequence the increase in the wage for artisans and peasants. The shortage of labor made Europeans substitute wages or money rents in place of labor services in an effort to keep their tenants. The plague changed the course of life in the middle ages because it bought changes like improvements in medical literature, programs of public sanitation, the fall of feudalism and other manorial systems and almost complete control of the Catholic Church. Certain cities imposed programs to prevent contagion and improved sanitation.
What causes a recession is inflation. Inflation is a general increase in prices and the fall in the value of money. Falling confidence in the consumer can be a major cause in leading to a recession. Also, manufacturing orders starting to slow down in the economy, this can lead to less money being produced throughout the economy resulting to a loss of jobs. Since this causes a high unemployment rate many of the people will get on a government welfare program to pay for their family and that is even more money being lost in the economy, making the nation fall into a deeper recession.
The Red Scare started right after the civil war was over. There had been many riots to accrue during the time of the red scare. In the term the red scare had been a form of lose to many successful people. It took at huge toll on the government as they tried to stop and contain the many job losses, but as the time went by people start to riot in the streets because the of the cuts from their jobs had really affected them. People were losing their lives and the government did all they could to try and stop it.
The Roosevelt administration changes issued in an era of prosperity unseen in America for the middle and lower classes. The rise of the working man saw the share of national income going to the top 1% decrease from 24% to around 10% as they failed to recover fully from the great depression and became swamped by an increasing number of government taxes (McQuaig & Brooks, 2010, p.54). Consequently, the rise of wages and workers’ rights, coinciding with heavier taxation to the rich, led to greater equity in income
The Black Plague The disease that wiped out thirds of the population, destroying civilizations. The age after the seven-year famine, that had already wiped out ten percent of the population, would lead straight into the period of death and mourning, called The Black Plague. This period started in the late 1348s and ended in estimated years. In the 14th century, humans didn’t have the science and medicine that we have today. The fact of the matter was in that time if you or your loved ones obtained the virus, you would be dead in around a week.
Recession also aids to cease the industries and various organizations due to of low investment leading employees to loose their jobs eventually leading to decrement in income flow in nation. In addition, recession causes investments and government expenditures to go down because of the low income level and low consumption. It causes industries to collaps, firms to lower the costs of production. Eventually leading to unemployment.
A decrease of working farmers forced government subsidization, which then caused a big blow to the Roman economy. The last reason for the ruination of the economic side of the Empire was the costs of military funding and the effects of trading. The spread of pacifistic beliefs throughout the Empire led to a decrease in the amount of willing legionnaires, pressuring the government to allow barbarian tribes to work for their military. As the two sides of the Empire drifted apart, they started to fight over valuable resources and made enemies with each other. The failing economy of the Roman Empire eventually grew to be the most significant cause of its monumental disintegration.
The wars of the 3rd century BCE left many small farmers in Italy financially ruined, thereby forced to sell their lands to the patricians, who “established vast plantations called latifundia.” Farmers were forced out of the market because crops from the new territories proved much cheaper. The war also caused an increase in the number of slaves. Thus, the patricians depended on slave labor to maintain these plantations, consequently forcing the displaced farmers to “simply flood the cities instead” because of the lack of job opportunities. This caused an increase in the population in Rome from “one hundred thousand” to “more than a million people.” The newly conquered lands of the Punic Wars also provided Rome with an opportunity to tax the provinces. As Rome needed money to “maintain an army to defend the border of the Empire from barbarian attacks”, Rome began to increase tax rates in order to provide for the resources the city need, which in turn resulted in an increase in inflation.