Middlebury

MiddLab

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The Price Revolution

The origins of a general trend in Europe of rising prices between 1520 and 1640, labeled the Price Revolution, have been deeply contested by economic historians since the 1920s. The debate is divided between two major camps, stressing the importance of monetary and ‘real’ factors respectively. My paper provides a general overview of the literature since the 1920s. I identify the influence of parallel developments in economic thought on the debate. Further, using the same qualitative primary sources employed by previous works on the topic I construct a novel explanation for these rising prices, avoiding constraints presented by flawed/restricted data.

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Anil Menon

Professor Paul Monod

 

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