Question

In: Economics

What was a feudal society and how was it different or similarwith the current society?...

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?

Solutions

Expert Solution

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 :

  1. In feudal socities land was most important currency and food was as a payment needed to survive however in current currency is form of payment used for exchange of services
  2. Back than relation of vassal and lord was the base line but now profit is goal of current society.
  3. Now there are no lords and serfs there is more of equality and dignity in every position of work unlike prior
  4. In current the subordinate class also has freedom to demand for the employers employers unlike before when vassal were just given food as there right to exist.

INTERNAL AND EXTERNAL CAUSES TO CAPITALISM:

  • INTERNAL -

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

  • EXTERNAL -

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 :

  1. Modern science was promoted as - better technology gave better productivity and rose sales ; same time reduced labor wages as capital equipments derived from modern science reduced cost of production ; gave alternatives of input for another ( electricity production from sun and water)
  2. Social science enriched as - now humans were given more dignity and value as before they were vassal of lords;people got there actually right that was not limited to just food for their hard work ; now class system was no more problem as people were given chances to grow; there skilled grew and also there specialization as market grew
  3. Economics also grew as - as now trade was given more importance ; now food was no more exchange of services and currency was bought in picture ; now profit was motive unlike prior; productivity was concern not social relationships ; making better trade relation with others was important but prior having dominant relation over emoyee was determined

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