Shakespeare’s Richard III famously immortalized the eponymous king as a scoundrel and tyrant, thirsty for power and blood. Using economic data spanning centuries, Thomas Lambert questions the truth of this spurious reputation: Was Richard III indeed a murderous despot bent on absolute rule? Or a myth propagated by Tudor allies aiming to ingratiate themselves to the new dynasty? | more…
Recently published and estimated historical data illustrate that economic surplus declined during the thirteenth and fourteenth centuries in England, helping explain the “crisis of feudalism” that started in the thirteenth century. It was not until several centuries later, when capitalism became the dominant economic system, that the economic surplus began to rise on a consistent basis, due to the reinvestment of a portion of the surplus into productive activities, a greater ratio of capital income to rental income, and a greater ratio of investment to economic surplus. | more…