Economic Developments in Europe from 7th to 14th

Economic Developments in Europe from 7th to 14th
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Economic Developments in Europe from 7th to 14th Century FEUDALISM Definition A political, economic, legal, military and cultural relationship - based on the holding of lands in fieffee and on the resulting relations between lord and

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Economic Developments in Europe from 7th to 14th Century FEUDALISM<br>
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Definition A political, economic, legal, military and cultural relationship - based on the holding of lands in fief/fee and on the resulting relations between lord and vassal - that served as a form of government system in the absence of a fixed government system.<br>
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Origin Derived from the Latin word ‘feudalis’ meaning ‘fee’ signifying the ‘fief’ / ‘land’ as payment for regular military service.
18th century: Adam Smith in his book ‘Wealth of Nations’, 1776, described economic systems and used the word for the first time.
Rome: Feudalism was said to be created by emperor Charlemagne, crowned king by Pope Leo-III in 800 AD (Father of Feudalism)
England: William-I (Duke of Normandy) started the system after defeating king Harold (Anglo-Saxon) at the Battle of Hastings (14th Oct. 1066) beginning the Norman conquest of England.<br>