A deadly virus arrives from the east and sweeps through western Europe for two years. The pandemic devastates the country’s economy and drastically reduces the number of available workers. Those who survive find they are in a strong position to secure a higher price for their labour.
That was the England of the 1350s in the aftermath of the Black Death, when emergency measures were brought in to cope with labour shortages. And, while the death toll from Covid-19 is nowhere near as severe as the drop – of at least a third – in England’s population between 1348 and 1350, the outcome for today’s economy is in some ways similar.
