Economic history of France since its late-18th century Revolution was tied to three major events and trends: the Napoleonic Era, the competition with Great Britain and its other neighbors in regards to 'industrialization', and the 'total wars' of the late-19th and early 20th centuries. Medieval France The collapse of the Roman Empire unlinked the French economy from Europe. Town and city life and trade declined and society became based on the self-sufficient manor. What limited international trade existed in the Merovingian age — primarily in luxury goods such as silk, papyrus, and silver — was carried out by foreign merchants such as the Radhanites. Agricultural output began to increase in the Carolingian age as a result of the arrival of new crops, improvements in agricultural production, and good weather conditions. However, this did not lead to the revival of urban life; in fact, urban activity further declined in the Carolingian era as a result of civil war, Arab raids, and Viking invasions. The Pirenne hypotheses posits that at this disruption brought an end to long-distance trade, without which civilization retreated to purely agricultural settlements, and isolated military, church, and royal centers. When trade revived these centers became the nucleus of new towns and cities around which suburbs of merchants and artisans grew. The High Middle Ages saw a continuation of the agricultural boom of the Carolingian age. In addition, urban life grew during this period; towns such as Paris expanded dramatically. The 13 decades from 1335 to 1450 spawned a series of economic catastrophes, with bad harvests, famines, plagues, and wars that overwhelmed four generations of Frenchmen. The population had expanded, making the food supply more precarious. The bubonic plague ("Black Death") hit Western Europe in 1347, killing a third of the population, and it was echoed by several smaller plagues at 15-year intervals. The French and English armies during the Hundred Years War marched back and forth across the land; they ransacked and burned towns, drained the food supply, disrupted agriculture and trade, and left disease and famine in their wake. Royal authority weakened, as local nobles became strongmen fighting their neighbors for control of the local region. France's population plunged from 17 million, down to 12 million in 130 years. Finally, starting in the 1450s, a long cycle of recuperation began. Early Modern France Figures cited in the following section are given in livre tournois, the standard "money