Econ 4-16 - Econ 4-16 Transition from Aristotle to...

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Unformatted text preview: Econ 4-16 Transition from Aristotle to Feudalism Ability of a society to produce a surplus A source of power (economy) A requirement for positive economic growth to occur over time In pre-capitalism If a surplus is produced, then the surplus is used 1. Store for future household use (consumption) 2. Engage in the process of exchange to change how others think of us, or change our status overall based upon this principles of a. Reciprocity b. Redistribution 3. Used to construct monuments to reflect status (greatness) Feudalism from the 6 th to 16 th century Based upon: custom and tradition to command. It is a system of social and economic relations Based essentially upon a set of mutual obligations and responsibilities Basic economic unit rural/agricultural life Urban life guild Basic economic actor Land owners lord / vassal Land users peasant / serf Fief or fiefdom right to use the land Serf (offered protection and supervision and how to administer the process of production by) lord...
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This note was uploaded on 04/20/2008 for the course ECON 1020 taught by Professor Evers during the Spring '08 term at Denver.

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Econ 4-16 - Econ 4-16 Transition from Aristotle to...

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