Planet Money Summer School History 2: The golden ages of labor and looms
Jul 17, 2024
Explore the evolving power dynamics between workers and bosses throughout history. Journey back to 1347 Sicily, where the Black Death unexpectedly empowered laborers with better wages and working conditions. Then, shift to the Industrial Revolution, where the Luddites rose against machines threatening their jobs, showcasing the struggle of skilled labor in the face of rapid technological advancement. This discussion highlights the complexities of labor's past and its implications for the present and future.
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Pandemic Shifted Labor Power
- The Black Death cut Europe's labor supply dramatically while leaving physical capital intact.
- That sudden labor shortage raised workers' bargaining power and pushed wages up across many regions.
Guilds Open Doors After Plague
- Guilds lost so many members after the plague that they admitted newcomers from non-hereditary backgrounds.
- This opened paths to social mobility and allowed some previously landless people to acquire property.
Short-Lived Equality After The Plague
- The post-plague period created a temporary island of lower inequality lasting about a century.
- Contemporary laws and sumptuary rules show elites tried to reassert social hierarchies against rising peasant consumption.