The Rise and Fall of A Theoretical Model: The Manorial System
Stefano Fenoaltea
Douglass North and Robert Thomas recently proposed a model of the rise fall manorial system. There is much to be admired in this work, which explores an unusually broad historical vision with great analytical acumen; but my purpose here examine some its less compelling features. In section II, I consider nature feudalism, develop empirical arguments against wholly voluntaristic non-exploitative interpretation by Thomas. Section III examines their analysis “classic” manor, believe errs both limiting feasible contracts forms direct barter attributing lowest transaction costs labor dues even within that restricted set. IV reviews explanation later evolution system, disputing continued use extensions it custom as institutional barrier efficiency, population growth inflation exogenous motors change. V provides brief concluding summary evaluation.
The Journal of Economic History