In: Economics
What was a feudal society and how was it different or similar with the current society? Do we have any feudal legacy now? Explain the internal and external causes for the transition from feudalism to capitalism. How did the transition facilitate the emergence of the modern science, social science and economics?
FEUDALISM :
It was combination of legal ,economical,military and cultural customs that grew in Medieval Europe in 9th - 15th centuries ,overall it was keeping the society in such relationships where holding of land was in exchange for service or labor ; here the one who accepted the land became vassal and one who granted became lord.
DIFFERENCE FROM CURRENT SOCIETY :
INTERNAL AND EXTERNAL CAUSES TO CAPITALISM:
As demand for goods rose it also made new markets and rose the trade however in this the rigidity of feudal system failed to comply with new demand; with rise in new methods of production , with it labour's divison rose and so did there productivity ; so as capitalist view grew landlords were now the new businessmen who seeked for higher economic return leaving fedualistic relation pattern behind ; and with more technology to rise production ,larger farms were needed as a result Fiefs were no more had role to play
Expansion of trade helped as merchants now started to prosper Europe as it became stable; the one's who had own terms of trade away from feudalistic pattern grew or else everything came to standstill ; Socities changed from subsistence to economic ones ; now the old landlords became businessmen who encouraged trade to look for higher profits .
EMERGENCE OF MODERN SCIENCE,SOCIAL SCIENCE AND ECONOMICS FROM BREAKING THROUGH FEUDALISM :