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

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

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