ECONOMIC CRISES AND THE EUROPEAN REVOLUTIONS OF 1848

Abstract

Recent historical research tends to view the 1848 revolutions in Europe as caused by a surge of radical ideas and by long-term socioeconomic problems. However, many contemporary observers interpreted much of the upheaval as a consequence of short-term economic causes, specifically the serious shortfall in food supply that had shaken large parts of the Continent in 1845–1847, and the subsequent industrial slump. Applying standard quantitative methods to a data set of 27 European countries, we show that it was mainly immediate economic misery, and the fear thereof, that triggered the European revolutions of 1848.

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