Factor markets in England before the Black Death

Bruce M. S. Campbell

    Research output: Contribution to journalArticlepeer-review

    21 Citations (Scopus)
    28 Downloads (Pure)

    Abstract

    Modern English factor markets originated during the two centuries of active commercialization that preceded the Black Death. An active labour market was established by the late twelfth century. Evolution of a land market followed the legal reforms of the 1170s and 1180s, which created legally secure and defensible property rights in land. These rights stimulated growth of a capital market, since land became a security against which credit could be obtained. Nevertheless, none of these nascent factor markets functioned unconstrained and each became embedded in legal, tenurial, and institutional complexities and rigidities which it took later generations centuries to reform.
    Original languageEnglish
    Pages (from-to)79-106
    Number of pages28
    JournalContinuity and Change
    Volume24
    Issue number1
    DOIs
    Publication statusPublished - May 2009

    ASJC Scopus subject areas

    • Social Sciences(all)

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