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36 Cards in this Set

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politically defined, a social system based on the holding of lands in fief or fee and relations of the feality between lord and vassals. Economically defined, an agricultural economy operated by serf labor and a town economy run by gilds.
estate of land held of a feudal lord
a landlord estate or territorial unit, originally a lord's demesne and lands within which he has the right to exercise certain privileges, exact certain fees, etc.
estate or part of an estate occupied and controlled by the owner and worked exclusively for his use
In feudalism, a person granted the use of land in return for which he rendered homage, fealty, and usually military service to his lord or other superior
a feudal lord
a medieval legal concept that awarded the usufruct of land (not its ownership) on the basis of authorized and traditional occupation of it.
an appointive ecclesiastic post that guarantees an income.
an inheritable estate in land held of a feudal lord on the condition of performing a certain services
unpaid labor exacted by a feudal lord. For example: road maintenance
member of a class of partially free persons under the feudal system who were serfs with respect to their lords but had the rights and privileges of freemen with respect to others
a person in condition of servitude required to render labor services to his lord, and pay taxes to his lord. Serfs were commonly attached to their lord's land and transferred with it from one lord to another. A serf was not a slave. Europe had serfdom, not slavery.
the formal, public acknowledgment by which a feudal tenant or vassal declared himself to be the man or vassal of his lord, owing him fealty and service
the obligation to be loyal and faithful to one's immediate feudal lord.
lands, houses, offices, rents, etc. that may be held for another
lus primae noctis
law of the first night, entitled a seigneur to demand sexual relations with any unfree woman on his domain on her wedding night, but never again thereafter
local informant sworn to declare the customary occupation of land in a locale in legal cases. From the French, jurer, which means to swear. Jurors were sworn to tell the truth about seisin and manorial custom
natural economy
non-monetized economy based on barter
commutation of labor service
In feudalism, substituting a money fee for a required labor service
In capitalism, the class that owns the means of production and distribution. Also called the capitalist class, which is divided into big and small on the basis of size of capital commanded. Small bourgeoisie owns small business; big bourgeoisie owns big business
a bourgeois, sometimes a town dweller
craft gild
gild of town craftsman
merchant gild
gild of town merchants
a trade organization which aims to monopolize production and/or sale of selected commodities, and which requires all producers or vendors to join the association if they qualify.
urban colonialism
medieval town policy which sought to monopolize commercial exchange within city and city's hinterland. Hitherlands primary products must find markets through or in the town, and the hinterland can only buy manufactured goods through or in the town
commons land enclosed by a usurping landlord
independent but small urban or rural proprietor; any freeholder
cost accounting
keeping written track of assets and liabilities chargeable to specific activities, especially by the method of double bookkeeping. Unless cost accounting is practiced, owners cannot know whether their business is profitable
the extent to which money is used in exchanges. Barter, reciprocity, and redistribution are alternatives to money. Another meaning of monetization is the expansion of the money supply in a society. Under feudalism, there was little money in circulation. Feudal society was only partially monetized. In a "natural economy" monetization is zero.
putting-out system
domestic producers are supplied raw materials and/or tools by a factor who also determines method of assembly.
domestic system
putting out system
any league of societies which exchange trading privileges. Town X permits merchants from town Y to trade in town X, and obtains reciprocal privileges from town Y. Then town Y and X are a hansa. There is some similarity to a free trade zone.
livery company
merchant gilds, often derived from craft gilds, in which membership was restricted to an influential elite.
a theory of political economy popular approx 1558-1780, and according to which nations should strive above all to accumulate a bullion hoard of gold through a favorable balance of trade. To this end, mercantilists recommended state bounties for exports, high tariffs, and colonies
process of amassing a capital fund, or enlarging an existing fund
primary accumulation
first accumulation. Marx claimed that primary accumulation really took place on the basis of massive theft, not of patient thrift by the bourgeoisie as Smith believed.