What significant shift occurred in the economy at the end of the Middle Ages?

The significant shift at the end of the Middle Ages was the transition from feudalism to capitalism. This change marked a major transformation in economic structures and social organization. Under feudalism, the economy was primarily agrarian, with land held by nobles and worked by serfs who were tied to the land. Power and wealth were concentrated in the hands of a few landowners, and the system was characterized by obligations and hierarchies.

As the Middle Ages progressed, several factors, including the growth of trade, the rise of towns, and the emergence of a merchant class, contributed to the decline of feudal structures. The resurgence of trade routes and the establishment of markets allowed for the exchange of goods and services beyond local bartering, leading to an increase in commerce. This paved the way for a more capitalist-oriented economy, where private ownership, investment, and profit became central.

This transition birthed the beginnings of a more dynamic economic system, characterized by individual entrepreneurial endeavors and a focus on trade. Ultimately, this shift laid the groundwork for the development of modern economies and the rise of the bourgeoisie, further distancing society from the rigid social stratifications of feudalism.