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Last lecture recap. The Manorial system was the set of institutional arrangements that structure rural economic life in the Middle Ages.Its key elements were:Open fields.Serfdom.Input sharing (labor dues).North and Thomas argued that these institutional arrangements were efficient in the absence of a monetary market economy.Fenoaltea contended that the problems of the Manorial economy could be easily (and more efficiently) solved without resorting to serfdom and input sharing..

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