Middle Ages Economy

Part I of Essay
The economy mostly seen in the early middle ages was feudalism, Europe’s 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, ....

Part II of Essay
.... once again began to cool and agricultural innovations could not maintain the productivity of frontier lands that again became marginal or were abandoned entirely. The decreased agricultural output could no longer support the same level of economic activity and, as early as the middle of the thirteenth century, the economy was beginning to weaken. By early in the fourteenth 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 ....