Great article and well written! (Okay, that was redundant. ) The history was really interesting and the economics was a surprise!
In the paragraph starting “The Black Death caused economic and demographic collapse throughout Europe…”, about 60% down the page (on an iPad in Reader View, anyway), this was an eye-catcher:
The relative standing of capital and labor reversed…
Consequently, I am not as much as an anti-Keynesian as I was! I used to think that going off the gold standard was a bad thing. (Remember your Monopoly Community Chest card? Collect $50 if you do. ) Now I’m not at all so sure.