World Economic Systems Questions Medium
In a feudal economy, the concept of land ownership is based on a hierarchical system where the king or monarch is considered the ultimate owner of all land within the kingdom. This system is known as the feudal land tenure system.
Under this system, the king grants land to his trusted nobles, known as lords or vassals, in exchange for their loyalty, military service, and other obligations. These lords, in turn, divide the land into smaller parcels and grant them to lesser nobles or knights, who are also required to provide military service and other services to their lords.
At the lowest level of the feudal hierarchy, the knights or lesser nobles grant small portions of land, known as fiefs, to peasants or serfs. Serfs are bound to the land and are obligated to provide labor, crops, and other services to the knights in exchange for protection and the right to cultivate the land.
In this system, land ownership is not absolute, but rather a complex web of relationships and obligations. The king retains ultimate authority over all land, and the lords and knights hold their land as a result of their loyalty and service to the king. The peasants or serfs have limited rights to the land they work on and are tied to it, unable to leave without their lord's permission.
Overall, the concept of land ownership in a feudal economy is characterized by a hierarchical structure, where land is granted by the king to his vassals in exchange for loyalty and service, and subsequently divided and granted to lower-ranking nobles and peasants, who have limited rights and are bound to the land and their superiors.