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15thC.jpg 34. D:\FTP\Spufford\13c.net (91)
The dynamic that drives monetization in Europe in the 12th-14th centuries is not purely endogenous, however, but driven by population cycles. This is Peter Turchin's Nonlinear Time Series Analyzer for the detrended English population cycle, 1100-1800, scaled in decades, with cycles occurring every 200-300 years.

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