Monday, December 06, 2010

Medieval England had a per capita income over $1000, research shows

New research led by economists at the University of Warwick reveals that medieval England was not only far more prosperous than previously believed, it also actually boasted an average income that would be more than double the average per capita income of the world’s poorest nations today.

University of Warwick economist Professor Stephen Broadberry, who led the research said, “Our work sheds new light on England’s economic past, revealing that per capita incomes in medieval England were substantially higher than the “bare bones subsistence” levels experienced by people living in poor countries in our modern world."

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