It may conjure up images of rotting teeth, terrible healthcare and a bracingly short life expectancy, but we can learn an awful lot from the 12th century — at least in terms of how the economy was handled.
In fact, England then was something of a paradise of long holidays, parties and an underdeveloped work ethic, the Guardian Hay festival heard on Thursday.
According to David Boyle, of the New Economics Foundation thinktank: “No one wants to live with medieval dental arrangements, or on a diet of mead and wheat husks. And we do know that the medieval period was full of terrible things like rape, pillage, torture and droit du seigneur [the supposed right of a feudal lord to have sexual relations with a vassal’s bride on her wedding night]. We wouldn’t want to live there. But they did have a very healthy skepticism about money and money values.”
Asked what aspects of the 12th-century economy should be exported to modern Britain, Boyle said: “Debt-free living; a lot of holidays and parties and a lack of work ethic; the idea of a ‘just price’ for goods; some aspects of the medieval guilds and the importance of craftsmanship; and a more spiritual response to money.”
“When you dig up 12th-century skeletons you find they are taller or as tall as skeletons at any other part of history other than our own,” he added. “That suggests they were getting economics right.”
Boyle said that for a small farmer in the 12th century to make a sufficient amount to live on for a year, he would be able to take 170 days’ holiday. The trend ever since, it seems, has been for work to take over. In 1495, he estimated, such a person would have to work 15 weeks of the year, but by 1564 the figure was 40 weeks and this year most British households require two adults to work full-time to support a home and family.
There was, he added, a sophisticated banking system — which enabled Richard the Lionheart, say, to deposit money in London and collect it in Geneva en route to the Crusades. However, debt was frowned upon, and did not form the fundamental part of economic life that it does now.
Boyle and his NEF colleague Andrew Simms also admiringly referred to a particular kind of coinage minted by cathedrals, among other institutions, during the period. “Black money” made of tin (or mereaux as the coinage was known in France) had to be spent within a certain time period, or else exchanged for less than had been originally paid for it. This discouraged hoarding and saving.
They also pointed to the “12th-century renaissance” — a period of intellectual growth, the establishment of great cathedrals and the beginnings of the universities.
“Towards the end of the 12th century there were fascinating social experiments in northern Spain and southern France, in which, for instance, women were involved in running Provence,” Boyle said. “But that was followed by a wave of intolerance lasting for centuries afterwards. We need to look at what happened after the end of the 12th century and make sure it doesn’t happen to us.”
A new online voting system aimed at boosting turnout among the Philippines’ millions of overseas workers ahead of Monday’s mid-term elections has been marked by confusion and fears of disenfranchisement. Thousands of overseas Filipino workers have already cast their ballots in the race dominated by a bitter feud between President Ferdinand Marcos Jr and his impeached vice president, Sara Duterte. While official turnout figures are not yet publicly available, data from the Philippine Commission on Elections (COMELEC) showed that at least 134,000 of the 1.22 million registered overseas voters have signed up for the new online system, which opened on April 13. However,
ALLIES: Calling Putin his ‘old friend,’ Xi said Beijing stood alongside Russia ‘in the face of the international counter-current of unilateralism and hegemonic bullying’ Chinese President Xi Jinping (習近平) yesterday was in Moscow for a state visit ahead of the Kremlin’s grand Victory Day celebrations, as Ukraine accused Russia’s army of launching air strikes just hours into a supposed truce. More than 20 foreign leaders were in Russia to attend a vast military parade today marking 80 years since the defeat of Nazi Germany in World War II, taking place three years into Russia’s offensive in Ukraine. Putin ordered troops into Ukraine in February 2022 and has marshaled the memory of Soviet victory against Nazi Germany to justify his campaign and rally society behind the offensive,
CONFLICTING REPORTS: Beijing said it was ‘not familiar with the matter’ when asked if Chinese jets were used in the conflict, after Pakistan’s foreign minister said they were The Pakistan Army yesterday said it shot down 25 Indian drones, a day after the worst violence between the nuclear-armed rivals in two decades. Pakistani Prime Minister Shehbaz Sharif vowed to retaliate after India launched deadly missile strikes on Wednesday morning, escalating days of gunfire along their border. At least 45 deaths were reported from both sides following Wednesday’s violence, including children. Pakistan’s military said in a statement yesterday that it had “so far shot down 25 Israeli-made Harop drones” at multiple location across the country. “Last night, India showed another act of aggression by sending drones to multiple locations,” Pakistan military spokesman Ahmed
US President Donald Trump on Wednesday said that he would make a decision about how the US government would refer to the body of water commonly known as the Persian Gulf when he visits Arab states next week. Trump told reporters at the White House that he expects his hosts in Saudi Arabia, Qatar and the United Arab Emirates will ask him about the US officially calling the waterway the Arabian Gulf or Gulf of Arabia. “They’re going to ask me about that when I get there, and I’ll have to make a decision,” Trump said. “I don’t want to hurt anybody’s