TIL that in response to rising wages as the Black Death led to a shortage of workers, King Edward III of England passed the rather draconian ‘Statute of Labourers’ in 1351 that made requesting or offering higher wages than pre-pandemic levels an imprisonable offence.
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Wage and Price Controls in 1351?
When will politicians and bureaucrats learn that the “Laws” of Economics are as immutable as the “Laws” of Physics. That’s why they are called “laws” and not “suggestions”.