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Supply and Demand of Labor

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Supply and Demand of Labor
Shannon Sampson
James Nzokah
April 20, 2012

Throughout history there have been many different events that have affected the supply and demand of labor, but there are few that have had as great of an effect as the Black Death. Considered to be one of the worst disasters to hit per industrial Europe, the Black Death swept through Europe from 1347 -1353, and was responsible for shifting the demand for labor and the supply of it in a way few other events have done at any point in history, Prior to the onset of the Black Death in 1347 (Routt, 2010) the demand for labor was lower than the supply of it, Europe was crowded and there was plenty of people to choose from to get the work done, so the lords were able to pay lower wages due to the shear fact that there was always someone willing to work for less just to put food on their table. In 1353 when all was said and done the population of the European people had been diminished by a staggering amount. (Routt, 2010) This lose in so many human lives shifted the ready supply of labor. Even though the demand for labor was less due to this same loss of life, it was still higher than the ready supply of labor. This shift to demand being higher than the supply meant that a person could charge more for their labors. This accrued all a crossed the labor markets so it effected everyone. (Routt, 2010)

Routt, D. (2010, april 02). The Economic Impact of the Black Death. Retrieved april 20, 2012, from

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