History of Economic Thought
Impacts of Medieval Fairs on Feudal Society
Steve Zhang
Franklin and Marshall College
November 18, 2012
Abstract
This paper presents insights on the Medieval fairs. In particular it looks into the impacts of Medieval fairs had on the socioeconomic transformation of feudal society. It argues that although fairs had little impact on the social patterns of serfs from early to high Middle Ages because they were created to complement feudal lords’ growing needs for more and diversified goods, development of fairs were crucial to the decline of serfdom. In addition, I show that the development of fairs not only led to the decline of serfdom, but also had a significant effect on the transition from a land-based economy to a money-based economy, which was also the root to the decline of feudalism.
I. Introduction Fairs were arguably always huge events for the feudal society during Medieval times. After conducting extensive researches on the relationship between Middle Ages fairs and the feudal society, I believe that the impact of fairs was distinctively different from early to late Middle Ages. Therefore, in this paper, I will argue that fairs were created by the feudal system to complement its growing needs for larger quantity and more diversified goods from the early to high Middle Ages, but the rapid development of fairs was also the root to declines of serfdom, as well as dissolutions of feudal society during the late medieval period. Medieval fairs were well recognized by historians and economists for their tremendous contributions to both social and economic development. However, what interested me was the disparity of influences fairs had on the same feudal society during different stages of Medieval times. In my opinion, fairs established during early Middle Ages were simply by-products of the feudal system, and were created to meet
Steve Zhang
Franklin and Marshall College
November 18, 2012
Abstract
This paper presents insights on the Medieval fairs. In particular it looks into the impacts of Medieval fairs had on the socioeconomic transformation of feudal society. It argues that although fairs had little impact on the social patterns of serfs from early to high Middle Ages because they were created to complement feudal lords’ growing needs for more and diversified goods, development of fairs were crucial to the decline of serfdom. In addition, I show that the development of fairs not only led to the decline of serfdom, but also had a significant effect on the transition from a land-based economy to a money-based economy, which was also the root to the decline of feudalism.
I. Introduction Fairs were arguably always huge events for the feudal society during Medieval times. After conducting extensive researches on the relationship between Middle Ages fairs and the feudal society, I believe that the impact of fairs was distinctively different from early to late Middle Ages. Therefore, in this paper, I will argue that fairs were created by the feudal system to complement its growing needs for larger quantity and more diversified goods from the early to high Middle Ages, but the rapid development of fairs was also the root to declines of serfdom, as well as dissolutions of feudal society during the late medieval period. Medieval fairs were well recognized by historians and economists for their tremendous contributions to both social and economic development. However, what interested me was the disparity of influences fairs had on the same feudal society during different stages of Medieval times. In my opinion, fairs established during early Middle Ages were simply by-products of the feudal system, and were created to meet
Cited: Review 2nd series 10 (3) (1958): 427-38. Jarrett, Bede, Social Theories of the Middle Ages, (London: Ernest Benn, 1923), p. 164, Migne, J.P. ed., Patrologiae Cursus Completus, (Paris, 1850), Vol. LXXX, Roy C. Cave & Herbert H