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| | H-Net Review: John H. Munro on The Great Wave: Price Revolutions and the Rhythm of History |
 | | For Flanders, a similarly constructed price index of quinquennial means (1450-74 = 100: Munro 1984), commencing only in 1350, thereafter rose 170 percent: from 59 in 1350-4 to 126 in 1380-84, reflecting an inflation aggravated by coinage debasements that England had not experienced, indeed none at all since 1351. |
 | | Even if every inflationary price trend that I have investigated, from the twelfth to twentieth centuries, has been preceded or accompanied by some form of monetary expansion, in none was the degree of inflation directly proportional to the observed rate of monetary expansion, with the possible exception of the post World War I hyperinflations. |
 | | If rising food prices hurt many wage-earners, they also benefited many peasants, especially those with customary tenures and fixed rentals who could thereby capture some of the economic rent accruing on their lands with such price increases. |
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