Affluence vs Poverty

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  • Why people became better off
    • Buying monastery lands and renting them out to farmers
    • Using land for rearing sheep, mining coal or making iron
    • System of Patronage gave important jobs in government
    • Marrying into a richer family
    • Investing in overseas voyages or new trading companies
    • Rising food prices helped land owners and farmers make bigger profits
  • Why poverty increased
    • More silver in Europe- decrease in value
    • Monopolies
    • Inflation- wages didn't keep up with rising prices
    • Wars- expensive- less money for other things
    • Henry VIII's debasement of coinage increase in value
    • Dissolution of monasteries- monks used to help the poor
    • Rising population
    • Collapse of the cloth trade- less jobs in popular industry
    • Changes in farming (enclosure)- farmers have to pay for land
    • Rack renting- raising rents on poor farmers from rich owners
    • Bad harvests- less food means higher prices

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