The ‘price revolution’ of the sixteenth century: Some Swedish evidence

Abstract

Since the publication in 1895 of George Wiebe's work, Zur Geschichte der Preisreuolution des XVI. und XVII. Jahrhunderts, ¹ the ‘price revolution’ has been a generally accepted concept found in most historical textbooks. By the ‘price revolution’, Wiebe meant the general rise in commodity prices which occurred in western Europe during the 16th century, the primary cause of which according to him was the influx of silver from the new Spanish possessions in America. His explanation also came to be generally accepted, but perhaps an even more significant contribution to the influence which this book has wielded is the fact that he synthesized in readily usable form the price analyses in existence when he wrote, i.e. at the end of the 19th century. In the 1930s his tables still formed the basis of sweeping conclusions and generalizations.