In the European feudal system under manorialism, the most significant economic commodity was land. Land was the primary source of wealth and power, as it provided the means for agricultural production, which was essential for sustenance and trade. Peasants, or serfs, worked the land in exchange for protection and a place to live, making their labor crucial to the economy. Thus, landownership and agricultural output were central to the feudal economy.
Manorialism developed in postclassical western Europe primarily as a response to the socioeconomic instability following the fall of the Roman Empire. With the decline of centralized authority, local lords sought to establish self-sufficient estates, or manors, to secure agricultural production and protect their lands from invasions. This system created a reciprocal relationship between lords and peasants, where peasants provided labor and goods in exchange for protection and land to cultivate. The resulting structure helped stabilize rural economies during a time of fragmentation and chaos.