Conversations with Tyler Sheilagh Ogilvie on Epidemics, Guilds, and the Persistence of Bad Institutions
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Apr 2, 2025 Sheilagh Ogilvie, an economic historian at All Souls College, Oxford, unpacks the hidden narratives of epidemics and institutions. She explores the economic impacts of pandemics, discussing the 'happy story' of the Black Death and its flaws. Ogilvie reveals how local governance often outperformed central authorities in managing health crises and debunks the myths surrounding medieval guilds. She dives into the evolution of economic growth in England and the intricate connections between marriage patterns and institutional effectiveness.
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Economic Impact of Pandemics
- Historical pandemics caused substantial GDP declines due to fear and restrictive measures.
- Voluntary market withdrawal was higher in the past than during the 1918 flu or COVID-19.
Black Death's True Impact
- The "happy story" of the Black Death's positive economic effects is simplistic and overlooks widespread suffering.
- While wages eventually rose, the immediate impact was devastating, and regional responses varied.
Black Death Survival Tips
- If sent back to the Black Death, disregard religious leaders' advice to gather, as this spread the plague.
- Encourage coordinated community sanitation and social distancing efforts.