To What Extent Is American Capitalism Representative Of...

To What Extent is American Capitalism Representative of European Medieval Feudalism? American capitalism is the foundation by which economic growth has propelled the U.S. economy to be a powerhouse. A system based on free enterprise and the â€Å" sweat of our brows†, it establishes the notion that it is a progressive step in equality and is detached from past economic systems. If one were to look closer, however, it becomes apparent that capitalism is not much of a far cry from feudalism in medieval europe. The lack of social mobility fueled by income inequality is what drives this idea to the foreground since such a practice was seen in many european nations in the medieval ages. This paper seeks to argue that contemporary American†¦show more content†¦Land was the primary means of production and the surplus was expropriated from producers under extra-economic coercion. This is the more traditional type of feudalism that most people have come to know. The second ag e in European feudalism lasted from the 12th century to the 15th century and was marked by a centralized power (Dumolyn). The aristocracy had now consolidated power and became feudal monarchies due to economic growth with new industries such as textiles in Flanders and commerce becoming interconnected with more trade between regions happening as production increased. In order to put this into perspective, analyzing a feudalistic society such as Flanders, is in order. During the first age of feudalism, state power was fragmented, divided between different lords who ruled and exploited their serfs and peasants (Dumolyn). However, after the 1200s, Flanders saw an increase in mortality rates within the labor class which led to a decrease in the amount of revenue the nobility received from feudal rents leading to a decrease in the purchasing power of the noble class. Landowning classes were no longer able to increase their income which led to nobles seeking to gain fortune in princely se rvice (Dumolyn). Counts from the Alsatian dynasty began to consolidate power by raising state taxes.This led to a more centralized administrative network, a growing money economy, and a generalized commodity circulation