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The answer differs depending on political and economic thought. Austrian economist would point out Nobel prize winner Frederick Hayek's work The Road to Serfdom. The main reason is the threat of force from others. In exchange for some security people take on the oppression of the lord.
The Ludwig von Mises Institute has many free articles on the subject of economics and the relationship it has with economics.
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What is the most significant institution in the economic structure?
Businesses are the most significant institution in the economic structure.
Definition of economic institution?
An economic institution is the set of norms relating to production and distribution of goods and services
Which Key economic Institution are primary producers primary?
Corporations
What type of economic institution engages in collective bargaining?
yourmom
Which economic institution was sometimes called slavery without slaves?
Sharecropping
Why did the Eastern European nations maintain the institution of serfdom and how did that policy retard economic development?
Serfdom was an unsustainable economic system, and it stunted the growth of the eastern European economy because eastern Europe maintained a farm-based economy long after the rest of the world had turned to an industrial economy.
In 1861 Czar Alexander II issued an order?
Tsar Alexander II issued the "Emancipation Edict" which abolished the institution of serfdom.
What is the most significant institution in the economic structure?
Businesses are the most significant institution in the economic structure.
Definition of economic institution?
An economic institution is the set of norms relating to production and distribution of goods and services
Based on Friedrich von Hayek's 1944 book what does government economic planning represent?
The Road to Serfdom
What are the 4 main types of social institution in Nigeria?
social institution includes religion,family,politics, and economic.
Which economic institution owns all industry and production?
socialism
Which Key economic Institution are primary producers primary?
Corporations
What type of economic institution engages in collective bargaining?
yourmom
When was serfdom abolished in Spain?
Spain abolished serfdom in 1837
How did serfdom differ in eastern and western Europe?
In western europe serfdom had largely disappeared and in eastern europe serfdom was firmly rooted
When was The Road to Serfdom created?
The Road to Serfdom was created in 1944-03.
