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England 1 Flanders 1 Malthus 1 Middle Ages 1 Postan 1 Ricardo 1 agricultural labourers 1 building craftsmen 1 bullion 1 credit 1 deflation 1 inflation 1 marginal productivity 1 masters and journeymen 1 money 1 nominal wages 1 population 1 real wages 1 relative prices 1
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MUNRO, John H. 1
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University of Toronto, Department of Economics 1
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Working Papers / University of Toronto, Department of Economics 1
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Money Matters: A Critique of the Postan Thesis on Medieval Population, Prices, and Wages
MUNRO, John H. - University of Toronto, Department of Economics - 2012
This paper is a critique of Michael Postan's famous Malthusian-Ricardo model demonstrating that late-medieval prices and wages were essentially determined by demographic factors, especially after the Black Death, while contending that monetary factors played no role in determining prices or...
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