What economic system existed in Europe during the Middle Ages?

Answer 1

The economic system that was most prevalent in Europe of the Early Middle Ages was the manorial system, which some people equate with feudalism and some don't. During the Middle Ages, a mercantile system also developed slowly, until it became very important in the Late Middle Ages and, ultimately, dominant in the Renaissance.

Answer 2

Feudalism is the economic and political sytem that developed in Europe in the Middle Ages.

"In the feudal system, people plegded loyalty to a lord - a ruler or a powerful landholder. In return, they received protecting from the lord. Knights, or armed warriors, fought on behalf of their lords. Peasants worked the land. At the bottom of the system were serfs, peasants who were not free to leave the lord's land."

Answer 3

Generalizing that the high middle ages in Europe and the middle east occurred from the reestablishment of trade routes, cross continental communications and international bodies in the form of the caliphates and the Catholic church to the period of population collapse following contagion, famine, and internecine war giving us dates roughly corresponding to the early eleventh century to the second decade of the fourteenth century (1000-1320 AD). The opening of this period was a time of both a barter and an obligation economy based on traditional Germanic tribal traditions of oaths and the feudal concept of reciprocal duties. Throughout the period church bans on the charging of interest (the sin of usury) began to soften while Jewish banking concerns evolved all of which led to the availability of credit. Credit and free-flowing international capitol in the amounts that were needed by nation-states for war and public works projects were beyond the means of the Jews. Larger banking interests were needed and were provided by family concerns in the rich Italian city-states such as Genoa, Venice and Florence. These family banks such as the Bardi and Peruzzi, leveraged their city's immense capitol inflow from domination of sea trade in the near east to make vast lines of credit available to the Kingdoms of Europe. The Crusades stimulated the evolution of pan-European credit, while Islamic bans on the charging of interest led to a stagnation in the evolution of state and business development. The societal shift of Europe from an obligation economy to a modern credit economy can be seen in the change in obligation of military service for the knight. In the beginning of the period a knight owed his lord a fixed number of days of service and a set number of retainers. By the end of the period this service could be commuted by paying a sum that represented the value of the military service. The noble or general could then take the sums paid in lieu of service and hire professional soldiers. By the end of the high middle ages international credit was an established fact for Europe allowing for the rise of a new middle class that was decidedly non-martial. It is perhaps the most significant economic development of the past thousand years and was the first step in the eventual dominance of European economic culture.

Answer 4

there were maids butler etc

Answer 5

short paragraph