Feudalism and The Organization of Economic Activities
During the Middle Ages, feudalism, a culture of its kind and a political structure, arose in Western and Central Europe. The abuse of the weak members of society by the politically privileged is characterized by (Takata 68). The economy at that time was primarily an agricultural system and social stratification was strongly defined. As such, the introduction of servitude and related structures had a profound effect on the medieval economy (Hunt and Colander 229). Nevertheless, with agriculture becoming the pillar of the market economy, the economy flourished and improved.
However, the scheme forced the peasants to rely on their tiny pieces of land and that of their masters. Additionally, and based on the fact that the entire estates were heavily controlled by the lords, the system also allowed them to have the full land rights and full control over the peasants (Takata 69). This is especially considering that the estates were designed in the manner that it facilitated the production of horticultural products.
Conclusion
The period of Feudalism in medieval Europe is famous for the economy centralization on the land resources. The market economy was part and parcel of the society implying that land was vital for the welfare of the society. The economic relations were based on the exchange of the products of peasants’ labor. Eventually and basically as a result of the many challenges of the time, majority of the laborers were forced to give up their land in exchange of protection and other essential requirements.
Works Cited
Hunt, Elgin F. & David C. Colander. Social Science: An Introduction to the Study of Society. Routledge, 2015.
Takata, Yasuma. Power Theory of Economics. Springer Publishing, 2016.
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