The Investment for Improving the Land Arability - Essay Example

The common stock of cattle and difficulties in selective breeding of cattle escalated the chances of diseases. At the same time, dispersed fields created huge problems of optimal grazing resulting in weak cattle stock. Indeed, the overall disinclination to invest in land improvement had made medieval agriculture inefficient and low-yielding.

          Clark believes that exogenous decline in interest rates was mainly due to the lower cost of capital which during the medieval period was very high which discouraged improvements in cultivation techniques. The high-interest rates, high investment cost of improvement due to reasons like dispersed holding, diseases cattle, etc. had adversely impacted the yield. In the late 18th and 19th centuries, emphasis was put on improvement techniques that resulted in higher yields and lower interest rates that made agriculture more attractive. They also used mineral manures to improve the arability and fertility of the soil which greatly contributed to improved productivity. Underground drainages were developed for a better harvest. Thus, investment for improving the land arability hugely contributed to reducing interest rates.