Economy

• Tudor England's economy under Henry VIII:

  • Relatively little change compared to his father's rule
  • Despite turndowns, taxes, and regional crises, Tudor England could feed itself
• Trade in Tudor England:

  • Volume of English trade increased under Henry VIII
  • Cloth trade remained strong, while wool trade declined
  • Exports of animal hides and tin surged
  • London-Antwerp route dominated exports, impacting ports like Bristol and Hull
  • Southampton thrived, especially in wine trade from Venice
  • Profits from cloth often stayed with foreign merchants
  • Cloth trade depended on wool trade
  • Cloth production process remained unchanged since Henry VII
  • Devon, Yorkshire, and Suffolk struggled economically due to reliance on cloth
• • Wealth disparity evident, e.g., William Stumpe purchasing Malmsbury
  • Tin and lead became valuable exports
• Exploration during Henry VIII's reign:

  • Henry VIII showed no interest in exploration
  • No efforts to build on Cabot explorations
  • Sebastian Cabot left for Spain and Portugal
  • Bristol merchants interested in Iceland and Newfoundland lacked royal support
  • Henry focused on conflicts with France
• Economic booms in Tudor England:

  • England experienced unprecedented economic health
  • Population increase
  • Agricultural prices rose, boosting farming incomes and engrossing
  • Debasement led to a short-term boom in the 1540s
• Economic busts in Tudor England:

  • Bad harvests in 1521/27 doubled food prices
  • Real wages decreased due to debasement
  • Widespread poverty, e.g., half of Coventry population had nothing
  • Rural unemployment increased; early signs of immigration emerged
  • Engrossing led to homelessness
• Enclosure in Tudor England:

  • Enclosure of common grazing land worsened under Henry VIII
  • Poor forced out of homes due to loss of grazing rights
  • Wolsey addressed illegal enclosure through Chancery court
  • Prosecuted 188 landowners for illegal enclosure
  • Limited success attempts to limit sheep numbers and engrossing in 1534
• Population challenges in Tudor England:

  • Population growth posed challenges for Henry VIII
  • Demand for food outpaced supply
  • Stagnant wages due to abundant labour
  • Farmers profited, selling more food at lower wages
  • Society became more polarized, with rich getting richer and poor poorer
  • Stern measures against vagrants and beggars implemented