What is feudalism, and how did it play a role in our pre-market society?

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Ans) Feudalism was a form of government in medieval Europe in which the people of ruling class made the labourers worked for them on their land and are provided protection and living in returns .Technically the workers were called serfs and the land that was granted to the people of upper class ho who were called Vassals in Order to give the military services to the king when needed .In Feudalism the type of economy is basically consisted of bounded labour and the welath distribution was majoraly with fewer people like nobles ,there was a complete control on the factors of production by few powerful nobles and it is an economic system which do not facilitate the free exchange of foods and services in fact the workers have no choice available for them ,as they get very little to sustain their life ,since noble were the only controllers of the land they pay very little attention to the welfare of people and explore them economically .

Rahul Sunny answered 1 year ago

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