Answer to Question #178571 in Economics for Lukyamuzi Jude

Question

In context to feudalism, show why the preclassical period presented few opportunities for development of economic ideas

Answer 1

For the development of economic ideas, a lot of data is needed on the impact on society of changes in various economic indicators. But in the pre-classical era, in the period of feudalism, most of the population was peasants. There were no large cities, developed trade routes, complex economic relations that allowed the formation of a class of investors. Without all this, there are no conditions for the formation and collection of data that allow making different conclusions about the functioning of the economy.