Devon's Economy During the Long Fifteenth Century: Wealth, Population and Trade.

Abstract

Devon’s relative increase in prosperity during the fifteenth century has been recognised by several historians of the period including Hoskins, Hatcher, Fox and Kowaleski amongst others. Explanations for this phenomenon have included the county’s late economic development and the effect of the introduction of new technologies. By contrast, this thesis argues that the great diversity of economic activities is a more likely explanation. After an introduction, Devon’s economic performance in the long fifteenth century and the likely causes behind it are examined, taking two main approaches. Firstly, the existing literature on towns, industry, and agriculture in late medieval Devon as described by earlier historians is reviewed. Then three main indicators of economic prosperity are examined: wealth, population and maritime trade. Evidence for Devon’s prosperity in the fifteenth century includes taxation records, records of debt and credit, and the building and extension of parish churches. Taxation records are also used to estimate population change, another important indicator of late medieval social and economic performance. Finally, evidence of international trade is considered, as a key indicator of Devon’s new-found importance in the economy of western Europe in this period. From the data presented, it is argued in conclusion that Devon’s late medieval prosperity rested not on a single economic activity, but on the diversity of its industries and trade.