Why Nations Fail: The Origins of Power, Prosperity, and Poverty
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Read between November 9, 2021 - March 12, 2022
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Such catastrophes can have a huge effect on the institutions of society.
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Yet the plague also had a socially, economically, and politically transformative impact on medieval European societies.
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It was a highly extractive system, with wealth flowing upward from the many peasants to the few lords.
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The massive scarcity of labor created by the plague shook the foundations of the feudal order.