The economy of Tarskavaig was dependent on five key activities: the breeding of black cattle for sale, growing potatoes, fishing, kelping, and the rearing of sheep for wool. Tragically, during the course of the 19th century these vital sources of employment and subsistence successively failed, or declined, leaving the economy of the village in ruins. It was only by finding ever more 'work in the south' that crofting families were able to survive. The 'Year of Destitution' in 1837 was the turning point in the history of Tarskavaig, as the land could no longer support the rising population. After reaching a peak of 250 in 1837, the number of inhabitants declined steadily. The Potato Blight of 1846 (a year after Ireland) was another massive blow to the community, as over 80% of the diet was being provided by the humble potato, and crofting there entered a period of decline.