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Essay Galaxy - Middle Ages Economy
Middle Age Economy
The economy mostly seen in the early middle ages was feudalism, Europe�s form of government
in the Middle Ages, was developed in the fifth century to meet the changing needs of the time. It
was based heavily on the honor system. The king had overall power, then the lord, then the
vassals, or landowners, and finally down to the peasants, known then as the villeins. The fiefs, or
estates, could be rented out to one vassal who would then rent portions of the fief to three more,
and so on. Each person would give their peer a fee (called the guild) and goods in return for
protection. As an old medieval saying states, "No land without the lord, no lord without the
land." The system became outdated in the 1400s.
During the eleventh and twelfth centuries, Europe enjoyed an economic and
agricultural boom. A slight warming of the c....
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