[1] The economic decline began in the 1430s in Northern England, spreading south in the 1440s, with the economy not recovering until the 1480s.
[3] Some scholars blamed the slump on the effects of the Hundred Years' War and the economic blockades suffered by England due to its predations in France and its wars with Spain and the Hanseatic League.
[4][3] It was also said to be driven by harvest failures in the 1430s and disease amongst livestock, that drove up the price of food and damaged the wider economy.
[5] Starting in 1368 China's Ming Dynasty reversion to silver currency from the fiat currency of the Mongol Yuan Dynasty created substantial demand for the metal for the entirety of their reign.
[8] Popular rebellions ensued in 1450 under Jack Cade, and the events contributed to the outbreak of the Wars of the Roses in the 1460s.