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compare and contrast feudalism and capitalism
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feudalism and capitalism are two of the most distinct economic systems in history. feudalism was based on a hereditary noble class that held all the land and power, while capitalism was based on free trade and the free market. in feudalism, success was determined by the family’s class; in capitalism, success is determined by individual effort. feudalism allowed for limited class mobility while capitalism allowed for open class mobility. capitalism is more efficient in terms of resource allocation, as decisions are made based on market supply and demand as opposed to a centralized command structure in feudalism. lastly, feudalism rewarded loyalty to the ruling class, while capitalism rewards loyalty to the free market.
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