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Lecture 3

Week 3 Lecture 2.docx

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Wilfrid Laurier University
Leigh Morrison

th Week 3 Lecture 2 – Sept. 25 , 2013 The Great Transformation: The Rise of modern Economies Con’t The Structure of Feudal Society - To fully understand the social changes taking place in the new economy, it is necessary to look th th at the structure of feudal society: specifically French society of the 15 and 16 century o Beginning in the 11 century, France was a feudal society. It was structured by a class hierarchy of privilege, power, and wealth at the top and serf labourers at the bottom o Feudalism was a wide spread in England, Spain, Russia, Italy, and Germany. Feudal societies began to decline in the 17 and 18 century as industrial society took their place - Feudal economies’ characteristics o First, the economy was agricultural and the main activity was the production of a food supply o Second, feudal societies were made up of a rigid class system consisting of two classes  First, a small class of peasant cultivators who owned all the land  Second, - Feudal society characteristics o Economic necessities are produced from the land o There were no cities or towns, all life was live in the country side o Markets had not developed and commerce did not exit, money economies had not emerged and barter or exchange was not prevalent o All production was directly for consumption rather than for exchange, the population consumed what they produced  Hand to mouth production - At the center of feudal society is the division into two distinct social classes o A landholding
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