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# Statute of Labourers

## Definition

The English law enacted in 1351 during the reign of Edward III that attempted to regulate wages and prices following the labor shortages caused by the Black Death. The statute set maximum wages and prices for various goods and services.

## Source Chapter

Book I, Chapter 11

## Context

Smith references the Statute of Labourers as historical evidence of grain prices in the 14th century, using it to trace the changes in the value of silver relative to corn over time.

## Economic Domain

Regulation

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