5min chapter

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What Happened to Europe's Economy After the Black Death

Odd Lots

CHAPTER

The Early Middle Ages and the Rise of Capitalism

After the Black Death, England set on this road of eliminating serfdom and moving towards something that looks a little bit more like a modern capitalist system. People were thinking in England in terms of the monetary value of the abstract monetary value of things. Because everything is in close proximity to London, which is a financial center, it's right on the North Sea. The cloth market is the cloth markets where they're mostly are turning wool into finished cloth for export.

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