What was the main economic system during the Middle Ages in Europe?

Feudalism was the dominant economic system during the Middle Ages in Europe, which spanned roughly from the 5th to the late 15th centuries. This system was characterized by a hierarchical structure where land ownership and obligations defined relationships among various social classes. At the center of feudalism was the lord-vassal relationship: lords owned large estates and granted portions of their land (fiefs) to vassals in exchange for military service and loyalty. Peasants, or serfs, worked the land and provided agricultural produce, which sustained the economy and supported the lords and their vassals.

This system was crucial to the organization of society during the Middle Ages, as it dictated economic production, social mobility, and the political landscape of the period. While other economic systems such as mercantilism, capitalism, and socialism have emerged in later stages of history, feudalism uniquely shaped medieval life by intertwining economic and social responsibilities within a framework of mutual obligation and protection, making it the defining economic structure of the era.