Medieval Britons were richer than modern poor people, study finds
People living in medieval England were more prosperous than modern day residents of the world's poorest nations, a study into Britain's economic history has found....
The paper, British Economic Growth 1270-1870, is published by the university's Centre on Competitive Advantage in the Global Economy, and estimates that per capita income in England in the late middle ages was about $1,000 or £634 a year when compared with currency values in 1990.
According to the World Bank, countries which had a per capita income of less than $1,000 last year included Ghana ($700), Cambodia ($650), Tanzania ($500), Ethiopia ($300) and Burundi ($150), while in India – one of the BRIC emerging economies – the gross income per capita stands only just above medieval levels at $1,180....
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The paper, British Economic Growth 1270-1870, is published by the university's Centre on Competitive Advantage in the Global Economy, and estimates that per capita income in England in the late middle ages was about $1,000 or £634 a year when compared with currency values in 1990.
According to the World Bank, countries which had a per capita income of less than $1,000 last year included Ghana ($700), Cambodia ($650), Tanzania ($500), Ethiopia ($300) and Burundi ($150), while in India – one of the BRIC emerging economies – the gross income per capita stands only just above medieval levels at $1,180....