Feudalism And Serfdom

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Feudalism and serfdom is looked at through the lens of modernity is viewed as an institution that goes against modern values. Marx and Engel’s view feudalism as an economic system that forced the proletariat into poverty and despair in order for the bourgeois to profit and maintain their power in a shift political environment. In the economic theory of microeconomics is that institutions and incentives matter, and if those two cannot provide the means for the economy to grow then society will be adversely affected. Feudalism could be an institution that was created to ensure that stability could be created and maintained. However, this paper will seek to understand feudalism as a product of its time mainly because there was a lack of centralization

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