Medieval Feudal Economy

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Medieval Feudal Economy The economic history of the world is a record of the economic activities (i.e. the production, distribution and consumption of goods and services) of all humans, spanning both recorded history and evidenced prehistory. Focus of world space economy The process of development and underdevelopment in the world space economy provides the major focus. (l) How the historical relationships between developed and underdeveloped countries are sustained, and (2) Why most underdeveloped countries have failed to develop their economies in a manner that alleviates such basic problems as poverty, unemployment, underemployment, and spatial and social inequalities. The center and periphery  Within the world system framework the concept…show more content…
The United States, Japan, the Western European countries, and Australia are prominent examples of this group.  Periphery : Pakistan, Thailand, Indonesia, Kenya, Nigeria, Mexico, Chile, and Jamaica are considered peripheral. Peripheral areas generally have "weak“ states, low wages, and simple technology economies.  Semiperipheral areas mix these features. In comparison to the center, they appear peripheral, while in comparison to the periphery, they appear centerlike, examples being Israel, Taiwan, South Africa, and even India.  This center-periphery relationship at the global scale can also be extended to the national scale, and the national space economy can similarly be subdivided into center, periphery, and semiperiphery regions. Medieval Feudal Economies  No international space economy existed in medieval times. Very few long distance spatial economic relationships and interactions existed between and among nations. Prevailing relationships were regional and limited in scope. An inward looking economy characterized European society in medieval times and it functioned under a feudalistic…show more content…
Challenges to Feudalism by 1300 • (1) Growing powers of national monarchies: especially in France and England, whose kings raised their own national, non-feudal armies • But English kings enjoyed a major advantage: England was NOT subdivided into feudal principalities: i.e., duchies and counties ruled locally by feudal princes (from Norman Conquest) • (2) Growing threat of mercantile towns and urban bourgeoisie: who financed kings, and lent them administrative support (though some became nobles) • (3) Military Innovations: - new infantry formations: pikes fixed in the ground: Scots & Flemings (1297-1314) - Genoese cross-bows and English long-bows - Artillery: iron and bronze cannons from the 1330s (supremacy of bronze: last lecture) - hand-held firearms: muskets and pistols Feudalism: Impediments to Economic Growth (1) Feudal-manorial estates and their labour supplies: not really subject to laws of the market economy: impeded market economy- note that manors as fiefs were given as payment for military service: and thus could not legally be alienated (i.e.,

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