Why was the decade of 1830s known as the great economic hardship in Europe ? Explain any three reasons.
The 1830s were the years of great economic hardship in Europe due to the following reasons : There was enormous increase in population all over Europe. There were more seekers of jobs than employment. People migrated from rural areas to the cities to live in overcrowded slums. There was stiff competition between the products of small producers and products imported from England where goods were made by machines as industrialisation had already taken place there. Peasants’ condition was bad due to burden of feudal dues and obligations. The prices of food had risen due to bad harvest. This had resulted in widespread pauperism in town and country.
