Summer School 2: The golden ages of labor and looms
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Jul 17, 2024
The podcast dives into the historical shifts in labor power, revealing how the Black Death in 1347 unexpectedly boosted worker rights and wages. It contrasts this with the dramatic Luddite uprising during the Industrial Revolution, where skilled textile workers violently resisted new machines threatening their jobs. The discussion highlights the ongoing relevance of these events, drawing parallels to today's challenges with technology and labor dynamics, showcasing how crises can reshape economic landscapes and worker empowerment.
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Black Death's Silver Lining
The Black Death killed 30-50% of Europe's population, creating a labor shortage.
This empowered workers to demand higher wages and better conditions, a "golden age of labor".
insights INSIGHT
Labor Supply and Demand
Rebecca Spang highlights that supply and demand apply to labor.
When worker supply decreases, wages increase, as seen post-Black Death and recent pandemics.
question_answer ANECDOTE
Post-War Worker Power
Post-WWII, the "30 Glorious Years," saw increased worker power and economic growth.
Strong labor unions, high productivity, and high taxes on top earners fueled public reinvestment.
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Stuff and Money in the Time of the French Revolution
Rebecca Spang
In 'Stuff and Money in the Time of the French Revolution', Rebecca Spang offers a groundbreaking analysis of the assignats, a paper currency introduced by French revolutionaries. The book explores how these monetary innovations reflected and influenced the social and political dynamics of the time, providing new insights into the nature of money and its role in shaping historical events. Spang's work challenges traditional views of the French Revolution by emphasizing the practical aspects of economic transactions and their effects on societal trust and political stability.
Who has the power? Workers or bosses? It changes through the ages, though it's usually the bosses. Today, we look at two key moments when the power of labor shifted, for better and worse, and we ask why then? What does history have to say about labor power right now?
We travel to Sicily, Italy in the year 1347, where the bubonic plague is about to strike. The horror known as the Black Death will remake European society in countless ways, but we'll focus on one silver lining: how economic conditions shifted for workers.
Then we head about 500 years into the future, to an English factory at the dawn of the Industrial Revolution, where textile workers take up arms against the machines taking their jobs and show how rapidly labor supply and demand can change. This is the famed tale of the Luddites, now a byword for knee jerk anti-technology, but the true story has nuance and a desperate but rational violent rebellion.
This series is hosted by Robert Smith and produced by Audrey Dilling. Our project manager is Devin Mellor. This episode was edited by Planet Money Executive Producer Alex Goldmark and fact-checked by Sofia Shchukina.
Planet Money 