The argument that Allen proposes which presents the most significant aspect of the industrial revolution …show more content…
On the labor input side of the economy we note that because of low population levels wages were high. These low population numbers were a product of the Black Death, but this event was not purely British in its scope. We can draw parallels between the fact that England and London in particular were some of the worst affected areas in Europe, with England losing an estimated 70% of its population from the outbreak (Barry et al, 45). Hence, the hard hit population paired with lower birth rates created a situation where high labor prices