Economic evolution Over the Course of Modern European History

The economy in Britain went through great change over the vast course of European history that we studied this year. The first event that affected British economy was the Black Death. Besides the obvious social affect that the plague had on England and the rest of Europe, the Black death also destroyed European economy. There were less employees and overproduction was vast because there were fewer consumers. Many people stayed at home for fear of contracting the fatal disease that plagued the continent, and economic life suffered because of it. The next stage in European history, the Reformation had a positive effect on the economy. The slight turn away from religion led to a wider acceptance of women in economic positions, and a greater economic development. During the period of religious wars England enjoyed an age of economic prosperity as a result of its dominance on the high seas. The scientific and commercial revolutions brought on greater economic development in not only England, but all of Europe as new techniques and government ideas evolved. The new tools creating during this period sped up production and created more jobs (such as in factories). During the mid 18th century, over 85% of Europeans still farmed for a living. The increase in overseas trading created a greater demand for goods and started the agricultural revolution. This would be considered a time of great prosperity in England, which developed the highly popular open-field system. As a result of the Enlightenment, a free-market economy was installed in England, allowing greater economical freedom. During the times of war (WWI and WWII), economy was quite prosperous in the UK. Factories were focused on war supplies, and more and more jobs opened up. Women once again became an important part of the economy, and times were good. However, when the war was over, economic trouble would occur again. There was the struggle to pay back debts owed to the soldiers combined with the necessity to rebuild the homefront that led to economic troubles. Today, England is an active ally of the United States and does fine economically, however it was a long road from the earliest days of the Tudor family.