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Beginning of Paper
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Middle Age Economy
The economy mostly seen in the early middle ages was feudalism, Europes form of government
in the Middle Ages, was developed in the fifth century to meet the changing needs of the time. It
was based heavily on the honor system. The king had overall power, then the lord, then the
vassals, or landowners, and finally down to the peasants, known then as the villeins. The fiefs, ....
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Middle of Paper
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.... century and continuing well into
that century, a declining population, shrinking markets, a decrease in arable land and a general
mood of pessimism were evidence of deteriorating economic conditions. This trend was far from
universal and it was certainly less severe in northern Italy. Also, north of the Alps, some
communities quickly rebounded and thrived on their commercial and manufacturing ventures.
Coventry, England, for example, flourished with its woolen cl ....
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