Economic historians often read this period unfortunately as merely the intervening time between feudalism and capitalism, somehow thinking that feudalism stopped and capitalism had not started yet. The truth, as with most things, is more complicated. This period saw a blending of the feudal code of land ownership defining one membership to a ruling class with a consumerist material identity, shown by the growing presence of liveries and badges as well as the need for aristocrats to involve themselves in some form of trade to augment dwindling rents.
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