Landlord Economy

Also called "feudal economy". An economic system and form of economy that was feudalistic in nature. Under this system, the feudal ruling class — the landlords, nobles and emperors — owned the largest portion of the land, while the peasants had little or no land at all. The peasants used their own tools to cultivate the land of the landlords, nobles, and emperors, and gave 40%, 50%, 60%, 70%, or even 80% or more of their harvest to the landlords, nobles, and emperors in the form of land rent. The landlord state also forced the peasants to pay tribute taxes and to perform unpaid labor to support a large group of state officials and an army that was mainly used to suppress the peasants. In addition to land rent, the peasants were exploited by commercial and usurious capital.