ECON 334 Lecture 5: Engels Law
Document Summary
The black death, several episodes of bubonic plague that struck europe in 1347 killed. Increase death rate -> decrease life expectancy -> increase living standard -> increase birth rate -> decrease death rate -> decrease wage. Measures of living standards: data on income for most countries are only available from the 20th century onwards. For only a handful we have 19th century data. Similarity, data on wages are very scant, sometimes unreliable. Avg 18th century english calorie consumption was about the same as avg as modern hunter-gatherer.
