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Economic development under Henry VIII post 1533 - Coggle Diagram
Economic development under Henry VIII post 1533
Cloth trade
75-80% of exportss cloth genuine commerical growth
Dissolution
transffered approx 10 % of welath to crown., initally strneghtend royal finances
Sale of monastic land
more than half of monastic land sold between 1543-1547
long term crown income sacrified to fund wars
Great debasements 1542-47
silver content fell from around 92 to 33 percent by 1546
increased inflation and decling living astnadrads
Henry reduced the silver content of coins to increase the money available to the Crown.
This contributed to inflation.
Prices rose while wages failed to keep pace.
Ordinary people experienced a decline in purchasing power.
These problems were inherited by Edward VI's government.
Population and enclosure
population grew encolksure dsplaced rual workers increased pressure on food eomployment and wages
2.3 million in 1500 to 2.8 million by 1547.
Short term: Henry gained enormous wealth and revenue from the monasteries.
Long term: He sold much of the land to finance expensive wars, sacrificing the Crown's future income.
There was also a political consequence: the gentry who purchased monastic land developed a financial interest in protecting the Protestant settlement, making a return to Catholicism more difficult