In Europe, centuries of simple habitation had long ago gobbled up all available land, raising its cost. European workers were engaged in activities over every inch of that land, raising their cost. Any changes to the system demanded capital in large volume, raising its cost. Anything that made even a small change to the availability of land (like a flood or fire) or the supply of labor (like a strike or military skirmish) or the stock of capital (like someone important emigrating or a recession) would throw off the balance, raise costs dramatically for everyone, and trigger massive social
...more
