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An Assessment of the Economy in the Reign of Henry VII.
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An Assessment of the Economy in the Reign of Henry VII Henry VII was King of England from 1485-1509 and during his reign there were several significant changes and developments in the economy. During the Middle Ages society was arranged in a hierarchy based on wealth, occupation and status; labourers, ordinary soldiers, paupers and vagrants formed the base of the hierarchy and were the greatest in number, the middle classes were made up of those distinguished by occupation such as merchants, master craftsmen, lawyers and the clergy, and at the top of the hierarchy were the elite, composed of Lords, knights, esquires and gentlemen. This hierarchical society was held together by a feudal system that had been in place since as far back as the Norman Conquest in the eleventh century. This medieval system of land tenure meant that all peasants had allegiance to their landowner and depended on them for...
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